Goldman Sachs caught up in anti-Maduro protests

"A lot of people tell me that the bonds don't have anything to do with people, but I tell them it's a moral issue". "You find a government that has a need for money, and you find ways to make a deal". But if a newly elected government reneges on its debt obligations, as Borges has threatened to do, the trade could go awry.

Fintech didn't respond to a request for comment.

Goldman Sachs Group Inc has bought $2.8 billion worth of bonds issued by PDVSA.

The Lutherans called on Venezuelan society to take seriously the consequences of its actions in the context of "a growing aggression in global politics".

Firms transacting with Venezuela recently have been able to command very favorable terms. Citing people familiar with the transaction, the newspaper said the company bought the bonds at 31 cents on the dollar, spending about $865 million. The government must understand that it should listen to the Venezuelan people, ' Capriles said and called on the opposition to rally in front of the Interior Relations Ministry, but past midday no one from the opposition groups had shown up.

But Goldman's move was met with criticism inside and outside Venezuela. "Whether Goldman owns them or somebody else it really doesn't make any difference", said Hanke, also a senior fellow at the Cato Institute. Its reserves rose by more than $400 million on Thursday after Goldman's purchase, according to central bank data.

In a statement, the bank acknowledged it purchased the bonds, but said they were purchased through the secondary market and not directly from the Venezuelan government.

Many economists say the only way to improve the country's situation is to scrap price and currency control systems that have hobbled the private sector. "We agree that life there has to get better, and we made the investment in part because we believe it will", the Wall Street bank affirmed.

Goldman, which confirmed the bond purchase Monday night, made the deal despite efforts of the Venezuelan opposition to prevent Western banks from doing transactions that benefit the Maduro regime.

Opposition leaders in Venezuela have strongly criticised the investment bank Goldman Sachs for buying $2.8bn (£2.1bn) of government bonds.

Even though critics have described the constituent assembly as an attempt by the president to confuse voters expectant of regional elections, as well as override the opposition-led National Assembly, Maduro still has substantial support.

Some Venezuelan opposition politicians have accused Goldman Sachs of supporting Venezuelan President Nicolas Maduro's regime.

The ministers said they would reconvene about Venezuela before the June 19-21 General Assembly in Cancun, Mexico. Protesters are demanding elections to kick out the government that they accuse of wrecking the economy and turning Venezuela into a dictatorship.

US State Department Undersecretary for Political Affairs Thomas Shannon said the ultimate goal of the declaration was to "return to full respect for the rule of law, full respect for freedoms of political expression and participation" in Venezuela.

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