Venezuela to sell dollar bonds
The Venezuela government does not have enough Dollars to pay for it’s imports, and hence it is planning to issue three billion dollars worth of government bonds in the coming days.
Over the last few months the Venezuelan currency has seen a sharp drop due to shortage of US dollars and scramble for it by most of their importers. The crash in crude oil prices from 130 dollars a barrel to less than 70 dollars a barrel has pulled down the economic condition of Venezuela in the last one year.
This country may not be able to improve the currency value unless the crude oil prices recover, which seems unlikely in the near future.