Monday, December 08, 2025 | 05:03 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Financing Venezuelan narcos the Goldman Sachs way

Bonds will mature in 2022, giving the cash strapped govt more than $865 mn dollars

A sign is displayed in the reception of Goldman Sachs in Sydney (Photo: Reuters)
premium

A sign is displayed in the reception of Goldman Sachs in Sydney (Photo: Reuters)

Elizabeth Rivera | Global Voices

On Sunday, May 28, the Wall Street Journal reported that the US-based multinational finance firm Goldman Sachs purchased $2.8 billion dollars in Venezuelan bonds at 31 cents on the dollar. The bonds were issued by the state-run oil company PDVSA and will mature in 2022, effectively giving the cash strapped, highly questioned Venezuelan government more than $865 million dollars.

Advertising technologist and entrepreneur Juan Bermudez wrote a post on Medium titled “Financing Narcos the Goldman Sachs Way,” aiming to “explain the political scenario in Venezuela and