This morning, Electricidad de Caracas’s 2018 bond went into default...or did it?
Announcing an unlikely debt restructuring, Maduro sent Venezuela hurtling down the default rabbit-hole tonight. But what if the announcement's an elaborate bluff, or an elaborate money-laundering exercise? And what if it's both?
Eulogio del Pino tried to do a #TropicalMierda mob impression, but had to accept a swap that fell well short of his goals. In the end, it was Wall Street that made him an offer he couldn’t refuse.
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