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Bond Market News
Venezuela’s Dollar Bonds Pick Up after IMF Agrees to Have Formal Contact
April 20, 2026
Venezuela’s dollar bonds rose by over a point after the IMF announced it would resume formal contact with the nation. The move was supported by a majority of IMF members, and follows the US’ recognition of the acting president of Venezuela Delcy Rodriguez. It is seen as a pivotal step toward economic stabilization and restoring access to global financing. Analysts note that the diplomatic update has raised expectations for a large restructuring of Venezuela’s defaulted debt, which remains barred by sanctions. However, analysts also caution that the IMF’s re-engagement brings new risks, as they have not conducted a standard annual review of the nation since 2004. They believe that the IMF’s understanding of the economic data may reveal a reality far worse than currently priced by the market.
Venezuela’s 11.95% 2031s bond rose by a point to trade at 56.98 cents on the dollar, while PDVSA’s 9.75% 2035 bond climbed by 0.5 points to 48.39 cents on the dollar.
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