They may well hold foreign bonds, however someone here posted an article by an analyst who, after stating the VZ bonds had a 9+% coupon and traded at 60 or so to yield 15%, said the bond payments were secure because VZ had such large reserves - up to $85B. Right now with VZ getting $31/B for oil it won't take long to go thru any reserves Hugo controls. And he needs to develop other sources of revenue because Chavistanomics only works with High oil prices and in his Socialistic model of Big central gov't and the citizens dependent on the Gov't for most everything he has eliminated private industry. The 90% number of dependence on oil for revenue is getting larger than 90%.