May 24, 2005
Venezuela will buy US$400 million in Argentine bonds, finance minister says

(AP Worldstream) - "Venezuela will buy some US$400 million (A€317 million) in Argentine public debt this year, the country's Finance Minister said.

Venezuela already bought Argentine bonds worth US$100 million (A€79.2 million) at the beginning of this month through the Bank of Economic and Social Development.

'If the market conditions permit it, we will do it,' Finance Minister Nelson Merentes told reporters, saying the expected amount would total US$400 million (A€317 million) in bonds.

Venezuelan President Hugo Chávez said in March that Venezuela would buy US$500 million (A€396.2 million) in Argentine bonds (...)

Merentes didn't specify why the smaller bond purchase was planned, but said the initial purchase of US$100 million (A€79.2 million) in bonds had proven beneficial to Venezuela for the interest paid (...)".