Venezuela, State Oil Firm Default on Billions Worth of Bonds 1 234 567

Venezuela, State Oil Firm Default on Billions Worth of Bonds

voanews.com

The Venezuelan government and its state-owned oil company PDVSA have officially defaulted on billions of dollars' worth of bonds, the latest chapter of the country's deep financial collapse.The International Swaps and Derivatives Association, a group of banks and brokers that determines whether an entity like Venezuela has failed to make on-time payments on its debts, voted Thursday to say that Venezuela had defaulted.The vote will trigger what is known as a...

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