Revolutionary. Charismatic leader. Firebrand anti-capitalist. Hugo Chávez is a man of many talents. But fund manager and lender of last resort? Absolutely, if his decision to create a Latin American debt fund is anything to go by, especially if it supplies Ecuador with much-needed cash.
On July 12, Nelson Merentes, Venezuela’s economy minister, announced the creation of the fund. The next day Rafael Correa, Ecuador’s finance minister, flew to Caracas to try to make a placement of $500 million of sovereign bonds directly with Venezuela.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
