(Bloomberg) -- Venezuela's dollar bonds rose for the first time in five days as investors say the South American country won't pull out of the International Monetary Fund, avoiding a default on its debt.
President Hugo Chavez said last week he would cancel the country's membership in the IMF and the World Bank because they curtailed Venezuela's ``economic sovereignty.'' The prospectus for the country's bonds states that ``Venezuela ceasing to be a member of the IMF is an event of default.'' Finance Minister Rodrigo Cabezas said last week that Venezuela wouldn't default.
Read more at Bloomberg Bonds News
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