Venezuela opposition accuses Goldman Sachs of financing dictatorship
Reuters
29 May 2017 • 8:24pm
The president of Venezuela's opposition-run Congress on Monday accused
Wall Street investment bank Goldman Sachs of "aiding and abetting the
country's dictatorial regime" following a report that it had bought $2.8
billion in bonds from the cash-strapped country.
The Wall Street Journal on Sunday said Goldman paid 31 cents on the
dollar for bonds issued by state oil company PDVSA that mature in 2022,
or around $865 million, citing five people familiar with the transaction.
That comes as two months of opposition protests against President
Nicolas Maduro have killed almost 60 people and the collapse of the
country's socialist economy has left millions of people struggling to eat.
"Goldman Sachs' financial lifeline to the regime will serve to
strengthen the brutal repression unleashed against the hundreds of
thousands of Venezuelans peacefully protesting for political change in
the country," wrote Julio Borges in a letter to Goldman Sachs President
Lloyd Blankfein.
"Given the unconstitutional nature of Nicolas Maduro's administration,
its unwillingness to hold democratic elections and its systematic
violation of human rights, I am dismayed that Goldman Sachs decided to
enter this transaction."
The letter adds that Congress will open an investigation into the
transaction and that he will recommend "to any future democratic
government of Venezuela not to recognise or pay these bonds."
Goldman and Venezuela's Information Ministry, which fields queries on
behalf of the Finance Ministry, did not respond to requests for comment."
http://www.telegraph.co.uk/news/2017/05/29/venezuela-opposition-accuses-goldman-sachs-financing-dictatorship/
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