Venezuelan state-oil company bonds tumbled after President Hugo Chavez won re-election by more than 10 percentage points in a vote that some polls had showed was too close to call.
Jamaica may need to restructure its debt again to avoid default, Barclays Capital said.
Venezuela’s central bank will publish a daily bolivar trading band to allow banks to participate in the currency market after suspending unregulated transactions.
Venezuelan President Hugo Chavez , after suffering his worst setback at the ballot box since taking office in 1999, may seek to strengthen his grip on the economy and undermine opponents ahead of the 2012 presidential election.
President Nicolas Maduro is guaranteeing a merry Christmas for his socialist revolution in Venezuela by using bond sales to fund imports of toys, alcohol, bicycles, trees, wrapping paper and food.
"The probability of default being priced by the market is higher than we're estimating."
- Alejandro Grisanti on Dec 17, 2014