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Goldman Sachs Defends Venezuela Bond Deal Vilified by Opposition

  • Firm says purchase reflects its belief life there will improve
  • Lawmaker: Deal is to ‘detriment of Venezuela and its people’
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Goldman Sachs Group Inc. defended its decision to buy bonds issued in 2014 by Venezuela’s state oil company after the head of the legislature criticized the purchase and said it could help President Nicolas Maduro’s administration as it grapples with accusations of human-rights violations.

“We recognize that the situation is complex and evolving and that Venezuela is in crisis,” Goldman Sachs said an emailed statement late Monday. “We agree that life there has to get better. We made the investment in part because we believe it will.”