El gobierno de Venezuela anuncia el inicio de una reestructuración de deuda por un monto de 170 mil millones de dólares

Golden Finance report, May 14th, according to The Wall Street Journal, Venezuela’s local time on Wednesday announced that it will initiate the process of restructuring its massive government debt, aiming to leverage the warming of relations with the United States to normalize relations with creditors and re-enter the international financial markets. Economists estimate that Venezuela’s public debt is as high as 170 billion dollars, and this restructuring is expected to be one of the largest and most complex sovereign debt restructurings. Venezuela defaulted in 2017, and currently its creditors include a wide range of entities, such as investors holding bonds of the Venezuelan government and state-owned oil companies, companies like ConocoPhillips claiming billions of dollars due to asset expropriation, and bilateral lenders. At the time of this announcement, acting President Rodriguez is working with the Trump administration to attract oil investors and promote the country’s reintegration into the global economy after years of U.S. sanctions and international isolation. Last week, the U.S. authorized Venezuela to hire advisors to prepare for potential debt restructuring. Venezuela stated that it expects to publish its macroeconomic framework and public debt sustainability analysis next month. (East News Agency)