VENEZUELA CLINCHES US$300M FINANCING DEAL: SOURCES
Venezuela’s central bank has reached a deal that will provide the country with at least US$300 million from New York-based investment fund Fintech Advisory Inc. to help offset a cash crunch, sources said. The crisis-hit country has spent months negotiating with investment banks, offering bonds as a guarantee, as it seeks to boost liquidity ahead of steep debt payments that begin this week, Reuters reported in February. Venezuela’s oil- dependent economy is suffering a brutal recession that has millions of people skipping meals amid steep inflation, low salaries and food shortages. Opposition lawmaker Rafael Guzman on Monday said the central bank was negotiating with Fintech, run by financier David Martinez, to obtain cash, using bonds issued by state oil company PDVSA as guarantee.