Venezuela is planning to issue dollar-denominated bonds worth about $3 billion in 2011, Bloomberg reports. The Venezuelan government may start selling the bonds in August 2011.

The debt sale is part of the country’s strategy to raise $10.5 billion to help finance programs to build homes, boost agricultural production and create jobs. In August 2010, the country sold $3 billion worth of dollar debt, maturing in 2022 and carrying a coupon rate of 12.75%.

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