Venezuela's recent $4 billion debt sale doesn't have IMF clause

Venezuela's recent $4 billion debt sale was made without the customary clause which indicates that if Venezuela were to withdraw from the International Monetary Fund bond holders can demand immediate payment, Finance Minister Rafael Isea said Tuesday. In televised remarks during a cabinet meeting with President Hugo Chavez, Isea said 'these bonds don't have the IMF clause.' The results of the sale were announced Monday. 'In former debt sales, (Venezuelan) bonds always carried an IMF clause that allows debt holders to demand immediate payment if the issuing country leaves the IMF,' Isa said.