Investing in Venezuela Could Be Hugely Profitable or Potentially Lethal
- Venezuela’s distressed bond lure investors in zero-rate world
- Yet risks, highlighted by canceled Barclays trip, are high
A protester kicks a Bolivarian National Police vehicle during pro-opposition demonstrations in Caracas on June 7.
Photographer: Carlos Becerra/BloombergThis article is for subscribers only.
Barclays Plc has decided that Venezuela is too dangerous for its bond-investor clients. No, not as in default kind of dangerous. Sure that’s possible but Barclays is more worried right now about things like kidnapping and murder.
Last month, the bank canceled a trip to take a group of money managers to Caracas after its security team deemed the trip “unwise” without “significantly enhanced” safety measures, according to an e-mail sent to investors that was obtained by Bloomberg News.