Hugo Chávez' government is reportedly set to purchase other USD 300 million in Argentinean debt bonds, said Argentinean newspapers.

Conservative estimations place the operation at USD 300 millions. Venezuelan Finance Ministry, through the Social and Economic Development Bank (Bandes), has already bought USD 950 million in Bonden expiring in 2012.

During his meeting with Argentinean President Néstor Kirchner earlier this week, Chávez stressed: "we have made money with these bonds; these bonds are good."

According to El Clarín daily, Argentinean financial needs amount to USD 2.2 billion.

Also during their meeting in southern Venezuela, Chávez and Kirchner underscored the need to create a Latin American financial fund to support regional development.

Venezuelan Finance Minister Nelson Merentes has repeatedly claimed that his country is exploring the South American market of public bonds, and purchase of Brazilian and Bolivian bonds has not been ruled out.