Venezuelan central bank to help with PDVSA tap.

The article examines the expected purchase by the Venezuelan central bank of two-thirds of a tap worth 3.15 billion U.S. dollars that Petroleos de Venezuela (PDVSA) will undertake of its 2017 bonds. According to Morgan Stanley, they project the government to issue at least 15 billion U.S. dollars in external debt to address the dollar deficit in 2011. Meanwhile, ING forecasts the Venezuelan government and PDVSA to raise a combined 6 billion U.S. dollars to make interest payments and pay off maturing debt in 2011.