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Goldman faces losses on controversial Venezuelan bond deal

Venezuela bond declines underscore the risk Goldman and its clients took on with an opportunistic investment in a country facing challenges

Goldman faces losses on controversial Venezuelan bond deal

Goldman Sachs' approximately $865m purchase of bonds from Venezuela’s central bank last year attracted criticism from around the world. Now, the transaction also is saddling Goldman’s investment clients with millions of dollars in paper losses.

Mutual funds operated by Goldman Sachs Asset Management faced potential losses of at least $63m on the bonds in the 12 months ended June 30, based on data from Morningstar.

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