Venezuela Considers $2 Bln Foreign Bond Buyback, Nacional Says

Venezuela is considering buying back $2 billion of government bonds denominated in foreign currencies, newspaper El Nacional reported, without saying how it obtained the information. The plan calls for the buyback of debt maturing in 2010, 2013 and 2027, the newspaper reported. The Finance Ministry has turned over the buyback proposal to President Hugo Chavez for his approval, according to El Nacional. Chavez may be delayed in making a decision because he is traveling abroad, the newspaper reported. Deutsche Bank AG would manage the transaction, El Nacional said. A Finance Ministry spokesman told Bloomberg News he had no information regarding a buyback.