Venezuela’s ‘Goldman Bounce’ In Reserves Is Gone

The boost in foreign reserves Venezuela enjoyed after Goldman Sachs investment arm picked up $2.8 billion of bonds from the state oil company is almost gone.

"We're gonna need another boost…" – time for some more Goldman 'swaps'?

As Bloomberg notes, the country’s cash hoard has fallen $326 million this week to $10.2 billion, near the 15-year low reached last month before the windfall.

Investors follow the level intently, trying to gauge how much time Venezuela has left before its dollar shortage results in a default.


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