What you need to know about Venezuela's 'hunger bonds'

But left-leaning nations that have been sympathetic to Venezuelan President Nicolas Maduro insisted the OAS had no business interfering in the crisis, in which protests against Maduro's government have left at least 60 people dead. Since 2013, its economy has shrunk 27 percent and its food imports have dropped by 70 percent, the Wall Street Journal reported earlier this year.

Nevertheless, the risk of default remains and in his letter to Blankfein, Borges said he would recommend any future democratic government of Venezuela not recognise or pay its dues on the bonds. "We agree that life there has to get better, and we made the investment in part because we believe it will", the investment bank added. "It is detrimental to the interests of the Venezuelan people, which has been repressed for months as it demands liberty and democracy", said Eduardo Lugo, 23, a Venezuelan communications student who has been in NY for the last four years.

"Our goal is to return to full respect for the rule of law, full respect for freedoms of political expression and participation", said Tom Shannon, the U.S. State Department's undersecretary for political affairs, as a group of countries pressed for "urgent action" to ease the crisis.

Hausmann said JPMorgan should take out Venezuela's "hunger bonds" from its index and create an index that "would allow you to root for higher returns on your savings without wishing for human misery".

"We are invested in PDVSA bonds because, like many in the asset management industry, we believe the situation in the country must improve over time", the bank said.

The opposition-controlled Congress also voted on Tuesday to ask its United States counterpart to investigate the deal.

Tajani spoke about the "brutal reprisal" of the manifestations by the authorities in Venezuela, called the situation "disastrous" and said that "every day a person is dying in the street".


Anti-government protests have intensified in Venezuela for two months and left almost 60 people dead.

Venezuelans are furious with Goldman Sachs for buying the country's government bonds last week, which critics say gives a lifeline to an incompetent government that is starving its people.

Venezuelan opposition accuses the government of mismanaging the oil-rich country, causing severe shortages of basic consumer goods.

The government of President Nicolas Maduro has been under attack by OAS chief Luis Almagro, who has vocally backed Venezuela's opposition and promoted foreign intervention in the country, leading Caracas to begin the process of withdrawal from the global body. Borges said Venezuelans sought "the opportunity granted by their own constitution to have free general elections", the AP reported.

They sold those bonds to Goldman Sachs at a serious discount to face value. Beke said her mother, Rebecca, lost her battle with cancer past year.

In New York Wednesday, Venezuelan Foreign Minister Delcy Rodriguez said Maduro's opponents should feel "deeply frustrated" that the USA -led plan to intervene in Venezuela's crisis had failed.

Meanwhile, diplomats from Bolivia, Nicaragua, Ecuador and other nations rejected the meeting as an intervention in the internal affairs of the South American country.

Related News:

  • Apple's Siri-powered smart speaker will reportedly debut next month

    The smart speaker space is heating up, with Amazon and Google already on the market and Essential coming soon. According to Bloomberg , manufacturing of the device has already begun, with Inventec building it for Apple.
    The Most Dramatic Moments on the Cannes Film Festival Red Carpet

    The Most Dramatic Moments on the Cannes Film Festival Red Carpet

    The 20-year-old model flaunted her leggy physique in a thigh-skimming silk skirt which she wore with a matching white crop top. Deepika Padukone may have stunned everyone with her second outing on Thursday, but she wasn't the only one to do so.

    Kushner sought secret communications with Russia

    Kushner's lawyer, while not addressing the alleged communications channel, said Kushner would cooperate with any investigations. This is part of the FBI's ongoing inquiry into alleged meddling by the Kremlin in the election, media reports said.
  • China to stick to Paris accord

    China to stick to Paris accord

    In it the US had agreed to reduce its emissions by 26 percent by 2025 when compared to levels in 2005 - about 1.6 billion tons. If the U.S. backs out of the Paris Agreement , what would that look like? And even then, the USA must give a year's notice.

    Why Did Trump Get 5M Twitter Bots To Follow Him This Week?

    Here, Perry, who is the most followed person on Twitter , performs at the Wango Tango concert in Carson, California, May 13, 2017. It has grown by about 7 million since February, the site said, and more than half of those accounts appear to be fake.
    If Wenger leaves, it's disastrous for Arsenal

    If Wenger leaves, it's disastrous for Arsenal

    Arsene Wenger reaffirms his loyalty to Arsenal after winning the FA Cup for the seventh time. Arsene Wenger's side, however, won this thrilling match through Aaron Ramsey's effort.
  • House intel Dem would review Kushner's clearance

    Schiff said he could neither confirm nor deny the reports about Kushner, but if they are accurate, "it's obviously very concerning".

    LeBron James defers on Warriors thoughts: 'It's too stressful'

    It's the matchup most expected , the matchup most predicted, and probably the matchup the Cavaliers and Warriors wanted as well. The Warriors could add the next-best player in the league that doesn't already play in Oakland, but it may not matter.

    James passes Jordan, Cavs back in Finals with 135-102 win

    Avery Bradley led Boston with 23 points. "If Cleveland comes out of the East, I want to destroy Cleveland", Green said. After allowing the Celtics to seize the early momentum in Game 4 , the Cavs barely gave them the chance in Game 5.
  • Netflix cancels Sense8, hints at more cancellations to come

    Netflix cancels Sense8, hints at more cancellations to come

    So we are continuing to watch them". "It is both spoof and amusing ", said Hastings of the series, which stars Alison Brie . Hastings said Netflix is spending more money, and its budget is also going to go up in the future.

    Coach Luciano Spalletti leaving Roma

    The 2016-17 season was another one of progress under the Italian. Spalletti's second stint as Roma coach began in January 2016.

    Armed police guarding FA Cup final after Manchester bomb

    Chelsea's afternoon got even worse in the second half when Victor Moses was sent off for a dive inside Arsenal's area. Arsène Wenger has claimed that his future as Arsenal manager will be decided later this week.


Most liked

New smart speaker expected as Apple kicks off conference
So far, the service has limited payments to purchases of products and services from companies and other organizations. The Echo, released in 2015, and Google Home, released a year ago, were the first entrants in a promising market.

Abbas Voices Commitment to Two-State Solution, Arab Peace Initiative
The most high-profile moment of Trump's stay in Jerusalem was his visit to the Western Wall, one of the holiest sites in Judaism. Mr Trump again vowed that he was "personally committed" to helping the two sides reach a deal to end the decades-old conflict.

Coach Valverde leaving Athletic Bilbao
Athletic said Tuesday that the coach will give more details about his departure in a news conference on Wednesday. Now the situation is different and I have to consider whether I start a new project in another club.

Phil Mickelson to Miss US Open to Attend Daughter's HS Graduation
Phil Mickelson has announced that he will miss this year's US Open to attend his daughter's High School graduation. Amanda, who will attend Brown University in the fall, is the class president and commencement speaker.

Annual Torch Run coming to Carroll on Wednesday
In the Western Region, there are 20 legs ran throughout different communities, raising funds and awareness for Special Olympics . Members of the department and Special Olympians will run through both Wilton and Ridgefield carrying the "Flame of Hope".

Drilling Down into the numbers for Coca-Cola Bottlers Japan Inc. (TSE:2579)
A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range. Aperio Group Ltd Limited Liability Company holds 0% or 1,710 shares. 56,829 were reported by Visionary Asset Management.

Ruthless Rafael Nadal cruises into French Open fourth round
Rafael Nadal laid down a marker as he chases his 10th French Open title with his most one-sided ever victory at Roland Garros. Muguruza will next face either Shelby Rogers of the United States or 13th-seeded Kristina Mladenovic of France.

White House communications director resigns amid tensions
Ahead of the briefing, White House communications director Michael Dubke announced his plans to leave the job. He later added: "It's an ongoing conversation, and that's a fair way to put it".

Warriors' Kerr will not coach Game One of NBA Finals
They struggled for long stretches during the regular season, although they've managed to improve somewhat during the playoffs. How could it possibly get better than this? There's a difference between an athlete who is hated , and one who has haters .

US, Japanese leaders agree to enhance sanctions against North Korea: Wh
North Korea's growing nuclear and missile threat is seen as a major security challenge for Mr Trump and Mr Abe both. These tests are claimed to be in violation of UN Security Council resolutions.

Irving's 42 carry Cavs to win, 3-1 lead over Celtics
Irving kept Cleveland within striking distance while James was out by scoring 12 points over the final 5:11 of the second quarter. After Love scored back-to-back buckets, Swish drained a bomb to get Cleveland to within three, 69-66.

Lue: Cavs' Irving feeling 'good' after Game 4 ankle injury
The Celtics left TD Garden after their Game 2 beat-down anything but sure they could give their fans at least one more home game. Smith and Kyle Korver helped spread out Boston's defenders by connecting on several wide-open scoring opportunities.

Fact Check: Does US Believe Western Wall Is in Israel?
The new USA ambassador to Israel, David Friedman, presented his credentials to President Reuven Rivlin in Jerusalem . Israeli Prime Minister Benjamin Netanyahu's office had no comment.

Arsenal beats Chelsea to win third FA Cup in 4 seasons
Arsenal defender Rob Holding had a fantastic semi-final too and he was under the spotlight, as was Per Mertesacker . Ramsey did not touch the ball, allowing Sanchez to run through and slot in.

Brook will face Spence Jr. in front of his hometown fans
The first world title fight of Errol Spence Jr.s promising career will be a tall order. However, Brook was caught with a series of shots in the tenth round.