Venezuelan Government Buys Argentine Bonds
In August 2007, the President of Venezuela Hugo Chávez bought $500 million Argentine bonds (Boden 2015) which were due to the IMF. This was decided by Chavez two years earlier during Tabaré Vázquez's inauguration as President of Uruguay. This trade of bonds would be the Argentine apport to the third emission of Bono del Sur by the Chávez administration.
From 2005 to 2006, Venezuela had already bought more than $3 billion bonds from Argentina, issued by the Argentine government following the debt restructuring. In total, Venezuela bought more than $5 billion bonds from Argentina since 2005.
Read more about this topic: Argentine Debt Restructuring
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