CARACAS, Friday August 08, 2008 | Update
Argentina country risk Friday topped 700 basis points, as
measured by the JP Morgan emerging market bond index EMBI+,
due to concerns over its financial outlook. The index reached
its highest level since 2005, when the country carried out
a massive debt swap.
Doubts about the future of Argentinean domestic economy led
to massive sales of assets, at a time when global markets
and investors show a strong aversion to risk, according to
traders quoted by Reuters.
Argentina was affected by restrictions to access international
financing and the only option left was to place all bond issues
in direct sales to Venezuela.
In May, Venezuela bought USD 1.36 billion in Argentinean
US-dollar denominated BODEN 2015 bonds, in a cash payment
of USD 1 billion. The implied yield of the operation was 12.9
percent. Venezuela has bought a total of USD 7 billion in
Argentinean bonds in the last few years.
04:01 PM.
Politics.
As it is a standalone Spanish court authority with "super-judges" independent from other government branches ensures a trial to the logical conclusion and responsibilities for scheming assassinations and support and protection of terrorist groups in the national territory by the Venezuelan government will be established in the event of being proved.