August 9, 2017 / 7:57 AM / 3 months ago

Venezuelan dollar bonds fall further as crisis deepens

LONDON, Aug 9 (Reuters) - Venezuelan dollar bond prices fell on Wednesday, with state oil firm PDVSA’s benchmark bond down 1.2 cents as the deepening crisis in the Latin American country attracted international condemnation.

PDVSA’s benchmark 2037 bond slipped to near one-week lows of 31.9 cents, whilst Venezuela’s 2038 sovereign bond fell 0.5 cents to 39 cents in the dollar according to Reuters data.

The country is in turmoil following the creation of a pro-government legislative superbody, condemned internationally as a power grab by President Nicolas Maduro.

Venezuela’s security forces have systematically wielded excessive force to suppress protests, killing dozens, and have arbitrarily detained 5,000 people since April, the United Nations said on Tuesday.

It has also been condemned by a 17-member regional bloc that includes Canada, Brazil, Argentina, Mexico, Chile and Colombia. (Reporting by Claire Milhench; editing by Sujata Rao)

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