Jun 06 2017
The humanitarian, political and economic crisis gripping Venezuela has intensified in recent months.
PDVSA's $4 billion of notes due in 2027 gained 0.5 percent to 39.22 cents on the dollar as of 1:31 p.m.in NY, the highest level in four months.
Carrying signs reading "Goldman Sachs deals in Blood Money" and chanting "Hunger bonds Goldman Sachs, We will not pay them back", protestors gathered outside the investment bank's headquarters in New York City for the second day in a row to voice their anger over the bank's purchase of billions of dollars' worth of Venezuelan bonds.
According to Reuters, Goldman Sachs acquired the bonds from New York-based investment firm Dinosaur Financial Group.
He urged "good-faith negotiations" among all Venezuelans, adding that "the main responsibility for showing good faith in any negotiations now is on President Maduro and the government of Venezuela". "We agree that life there has to get better, and we made the investment in part because we believe it will". "The OAS cannot continue to be used by a country for a political lynching against the government of Venezuela, it is regrettable that a group of brother countries has been biased in their appraisals and focus", said Nicaraguan Ambassador Luis Ezequiel Alvarado.
Venezuela's crisis is man-made; a socialist regime introduced awful economic policies and took away human rights.
Bonds issued by Venezuela's national oil company, Petróleos de Venezuela, or Pdvsa, "have attracted some of world's most sophisticated investors", the New York Times explained.
US officials also said Venezuela's government may not be able to depend much longer on deals like the one with Goldman Sachs.
"Today is an opportunity for us to demonstrate that this commitment remains alive and well relevant to the current plight of our Venezuelan neighbors", Shannon said.
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In Venezuela, Maduro's critics have for two months staged street protests, which have left almost 60 people dead, to demand he hold early elections.
In a statement, Goldman confirmed the purchase, without mentioning how much it paid.
Opposition leader Julio Borges accused Goldman of "aiding and abetting the country's dictatorial regime".
While some member countries of the Organization of American States met on Wednesday to discuss the crisis in Venezuela in Washington, authorities in Caracas continued using tear gas canisters and water cannons to disrupt a massive protest against President Nicolas Maduro.
Goldman Sachs is being heavily criticized for giving Venezuela's government close to a billion dollars.
Likely the most frustrating aspect for Goldman is the fact that they didn't even buy the bonds from the government.
The Venezuelan government hasn't made an global public bond offering in several years since capital markets are essentially closed to it as its economy has shrunk 27% in four years, its oil production has declined rapidly and investors have become increasingly anxious about the growing likelihood of default.
The new assembly has galvanized Maduro's core support in rural Venezuela and among the poor.
It said it "affirms that conflict resolution mechanisms will require all parties to fundamentally rethink the view they have of themselves and the other, in order to transform the now polarized debate into one about the people's common interests and objectives".
Jun 04 2017
Horgan urges Clark to recall legislature, citing softwood, drug crisis
After negotiations with both the Liberals and the NDP, the Greens chose to side with John Horgan's NDP. If Clark can't win the confidence of the legislature, she would be expected to resign.
Jun 04 2017
London Bridge Closed Following Reports That Vehicle Plowed Into Pedestrians
MARTIN: In a minute, I'm going to ask you to tell us about the area, about central London, for people who aren't familiar with it. Police treated injured on the bridge, buildings in the area were evacuated and subway stations in the area shut down.
Jun 04 2017
Saina bows out, Sai Praneeth advances to final in Thailand
However, the London Olympic bronze medallist has not had a good season, barring her Malaysia Masters win earlier this year. Saina made her task hard by committing a large number of unforced errors in the second game of her match .
Jun 03 2017
Goffin retires from match at French Open
Defending champion Garbine Muguruza advanced to the fourth round of the French Open by beating Yulia Putintseva 7-5, 6-2. This was the second retirement of the day after Belgian David Goffin was forced out with an injured right ankle.
Jun 02 2017
Djokovic makes winning French Open start on Agassi's watch
Djokovic's first match with Andre Agassi as coach could hardly have gone better, although he confirmed later it would be a short first stint.
Jun 01 2017
UN chief urges action on climate change as Trump debates
The move could also lead to other nations weakening or stepping back from their pledges under the pact. The Obama administration committed the U.S.to reducing carbon emissions by 26 to 28 percent by 2025.
Jun 01 2017
White House Communications Director Resigns
Flynn handed in his resignation in February after it was revealed he misled top White House officials about his contacts with Russian officials.
Jun 01 2017
'Something strange' is going on with Trump's Twitter, experts say
The White House didn't immediately respond to a query about the surge in followers to Trump's Twitter account. Data generated by TwitterAudit shows as of 1 May 2017, 63 percent of Trump's followers were authentic.
May 31 2017
Delhi: IAS officer drowns to death while saving woman's life
Suspecting foul play, the family has demanded a CBI probe into the incident if Delhi Police fails to get any breakthrough soon. Ashish Dahiya , a young IAS officer of J&K cadre lost his life while trying to save a woman officer from drowning in Delhi.
May 30 2017
Player guide for Champions League holder Real Madrid
They won it a year ago , so we're facing a great team that is used to playing these games, these competitions and these finals. Casemiro's steel in the midfield has allowed Luka Modric and Toni Kroos to pull the strings in the final third of the pitch.
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