CAF targets PdV capital

摘要

Latin American development bank CAF plans to seize part of Venezuela's paid-in capital to cover debt arrears, a move that highlights the country's loss of multi- lateral credit ties. Caracas-based CAF has given Venezuela six months to pay or restructure $180mn in arrears before the stock would transfer to the bank. The CAF board approved the measure on 3 March with the aim of avoiding further credit rating downgrades, political, diplomatic and fnancial sector sources say.