CARACAS, Tuesday February 13, 2007 | Update
Last January President Hugo Chávez announced he would
continue to buy Argentine debt bonds, and recent press reports
in Argentina claim that Venezuela is purchasing another USD
2 billion in Argentine debt.
In 2005-2006, Venezuela bought over USD 3.7 billion in Argentine
debt bonds. Up to October 2006, Venezuela sold over USD 3
billion of such notes to local banks, with profits at USD
309 million.
Further, both countries made a joint issuance of the so-called
Bond of the South for USD 1 billion.
Argentine government sources told newspaper La Nation that
President Néstor Kirchner is looking for fresh money,
and therefore Venezuela is expected to buy USD 2 billion in
notes. The sources claimed that Chávez has shown interest
in buying the Argentine instruments, and stressed that beyond
the fact that this a good deal, Chávez is gaining unconditional
political support from Kirchner.
The transaction is expected to be refined next February 21st,
during a meeting to organize the Bank of the South.
04:20 PM. Western Hemisphere. Colombian President Álvaro Uribe said on Tuesday that governments should ensure citizens' rights to live on the border, in reference to a political and diplomatic crisis with Venezuela and its effects on border residents.