Even if it goes up to 70 dollars, it can’t save Venezuela 延边大学招生网

Even if you add up to $70 could save Venezuela according to the Business Insider article, after months of rumors, Venezuela’s state oil company PDVSA Wednesday finally announced that the company is currently facing in order to reduce the financial pressure, will be extended to 70 billion dollars in debt coming due. According to financial times Andres Schipani and Eric Platt, Eulogio del Pino, the company’s chief executive and Venezuelan oil minister, said the debt extension will allow investors to freely trade debts due in October and 2017 April. New debt maturing in November 2017 will be extended to 2020. One thing we should note is that the extension is voluntary, which means that the extension depends partly on the wishes of the investors. Exotix Partners said in a report to clients: "if the government can convince the holders of the existing Venezuelan state owned oil companies to agree to extend the debt, this is also very beneficial to other creditors, because it is possible to avoid the default of the company in the short term." They also said: "the extension will delay PDVSA’s debt of nearly $6 billion to 18 months, which will give PDVSA a breather, and give the company time to reform."." Debt rollover, however, does not solve Venezuela’s problems. Edward Economics, chief economist at Capital Glossop in Latin America, explained in a report to clients: "this debt extension just extends the debt repayment process a little bit.". And most of the debt will expire after 2017. Another $4 billion debt will expire in 2019. The worry is that there will be 7 billion 400 million dollars in debt maturing in 2020." The more serious problem with Venezuela’s oil companies is that Venezuela is on the edge of a political and economic catastrophe. At the same time, Venezuela faces economic mismanagement, a large amount of debt to be paid back, food and daily necessities shortage, robbery and other violence continue to occur. Earlier this month, the Venezuelan people began to protest, asked President of Venezuela to step down. Through the procession, the Venezuelan people wanted to put pressure on the Venezuelan authorities in order to resume presidential elections. With macro expectations, international oil prices will rise to around $60 a barrel by the end of 2017, and Venezuela’s oil exports will fall sharply. Glossop said: "Venezuela’s debt maturity shocks, in the medium term, Venezuela’s economic crisis will lead to Venezuela’s sovereign debt crisis."." (translated Yilia) more exciting content, welcome to pay attention to search WeChat public number: Tencent Finance (financeapp).

就算就加涨至70美元 也救不了委内瑞拉据Business Insider文章,在传言持续了几个月之后,委内瑞拉国有石油公司PDVSA本周二最终宣布,为了降低该公司目前面临的财务压力,将对70亿美元即将到期的债务进行展期。据金融时报的记者Andres Schipani和Eric Platt报道,该公司的首席执行官兼委内瑞拉石油部长Eulogio del Pino称,这次债务展期将使投资者可以自由交易在今年10月份、2017年4月份到期的债务。2017年11月到期的新债将会延展至2020年。有一点大家需要注意,这次展期是自愿的,这意味着是否展期部分取决于投资者自己的意愿。Exotix Partners在给客户的报告中称:“如果政府能够说服现有的委内瑞拉国有石油公司债务的持有者同意展期,这对其它债权人也是极为有利的,因为这有可能避免短期内该公司违约。”他们还称:“此次展期将把PDVSA近60亿美元的债务延期至18个月以后,这将给PDVSA公司一点喘息之机,也能给该公司一点时间进行改革。”然而,债务展期并不能解决委内瑞拉的问题。凯投宏观(Capital Economics)拉丁美洲首席经济学家Edward Glossop在给客户的报告中解释称:“这次债务展期只不过是把偿债的过程延长了一点而已。而且2017年之后还会有一大部分债务到期。另外还有40亿美元的债务将会再2019年到期。让人担忧的是在2020年将会有74亿美元的债务到期。”与委内瑞拉石油公司的债务相比,更严重的问题是,整个委内瑞拉正处在政治经济灾难的边缘。与此同时委内瑞拉还面临经济管理失当、大量的债务需要偿还、食物和生活必需品极度短缺,抢劫等暴力事件不断发生。本月初,委内瑞拉民众开始游行示威,要求委内瑞拉现任总统下台。通过游行委内瑞拉民众想给委内瑞拉当局施压,以便重新进行总统选举。凯投宏观预期,即使到2017年底,国际油价能够涨至每桶60美元附近,委内瑞拉石油出口的收入也会大幅下降。Glossop称:“受委内瑞拉债务到期事件冲击,中期来看,委内瑞拉的经济危机将会导致委内瑞拉出现主权债务危机。”(翻译 Yilia) 更多精彩内容欢迎搜索关注微信公众号:腾讯财经(financeapp)。相关的主题文章:

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