Venezuela in selective default on domestic debt: experts

[Zorro]

Venezuela has selectively defaulted on its domestic commercial debt, suspending payments to a wide gamut of creditors owed more than $14 billion, economists here say.

The leftist government of President Nicolas Maduro has kept up payments on its sovereign bonds and those of state oil company PDVSA to avoid the risk of asset seizures.

But its unpaid debts with importers of automobiles and auto parts, medical supplies, chemicals and airlines exceed $14 billion, according to former Central Bank of Venezuela manager Jose Guerra, who adds that "a commercial default has been incurred, a suspension of payments."

"The government decided to engage in a selective default in the internal market and not the external," agrees Luis Oliveros, an economist and professor at the Central University of Venezuela.

https://uk.finance.yahoo.com/news/venezuela-selective-default-domestic-debt-195433210.html

[Bacchus4.0]

1. Can't pay the bills n/t

[Marksman_91]

2. That's a bunch of baloney

It's obviously the CIA/US/Opposition sabotaging the Venezuelan State's capability to produce anything. They trained all the protesters against the regime in their secret training camps showing them how to riot and put up makeshift barricades. And the airlines aren't canceling or suspending their flights, they are simply rerouting them to go to Brazil due to the World Cup (words taken from Maduro himself).

Am I sounding like a Madurista yet?