Goldman Sachs Bought Venezuela’s State Oil Company’s Bonds Last Week
The New York-based bank’s asset management division last week paid 31 cents on the dollar, or about $865 million, for bonds issued by state oil company Petróleos de Venezuela SA in 2014, which mature in 2022, according to five people familiar with the transaction. The price represents a 31% discount on the trading Venezuelan securities maturing the same year …. https://www.wsj.com
Source: http://luismmx.blogspot.com/2017/05/goldman-sachs-bought-venezuelas-state.html
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The sad and terrible thing is that a so called socialist country is loaning on its assets because it was utterly corrupt and inept at running itself, if you wish to see a well run but resource dry state look at Cuba which has no problem feeding its population without any oil whatsoever.