The dollar in Venezuela it operated stable on Thursday, according to DolarToday, following learning that PDVSA’s financial debt rose to US$34,894 million in 2021.
At the opening, the dollar stood at 4.82 digital bolivars in the informal market in Venezuela, similar to that registered the previous day, according to data from the portal DolarToday.
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The consolidated financial debt of Petróleos de Venezuela increased 1.2% to US$34,894 million last year, according to a balance of the state company published on Wednesday in the official press.
As of December 31, 2020, PDVSA’s financial debt had totaled US$34,494 million, according to the balance published in the newspaper Correo del Orinoco.
According to the document, around three quarters of the existing consolidated debt at the end of 2021 corresponds to loans contracted by the parent company, mainly bonds. The remainder of the debt is related to bonds and credit facilities contracted by subsidiaries and joint ventures of PDVSA.
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PDVSA stopped meeting its obligations to bondholders and many other creditors following the imposition of financial sanctions by the United States.
Last year, the boards that oversee its main outside subsidiary, Citgo Petroleum, which is controlled by the opposition, hired JP Morgan Chase & Co to explore payment negotiations with creditors.
In 2021, Venezuela managed to stop the free fall that its oil production and exports had accumulated since sanctions in 2019 stripped PDVSA of its main market, the United States.
With information from Archyde.com
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