Venezuela fulfilled $250 million in debt servicing obligations this week, the government said late on Friday, paying interest on its 2031 bond amid growing concerns over the finances of the oil-dependent country. "Today Venezuela paid 250,950,000 (dollars) in interest on the Sovereign Amortizable Bond 2031," Finance Minister Rodolfo Marco said on Twitter.
The 2031 bond was issued in August 2011 for $4.2 billion, with 11.95 percent interest. In mid-January, the government paid $70 million of interest on its bond, due in 2034. Venezuela's already fragile economy, which depends on oil for 90 percent of its foreign exchange, was battered during the last six months by the global fall in crude prices. The country is on the hook to pay around $10 billion in bond costs this year.