Venezuela Desperate For Debt Restructure

Venezuela will seek options for restructuring its debt after
state-owned PDVSA pays US$1.2 billion on a bond that matured
yesterday. This is what the country’s president, Nicolas Maduro,
said in a statement, which has reinforced concern that Venezuela is
close to defaulting on debts, whose total amount is about US$150
billion. Any attempt at debt restructuring, AFP notes, would run
into the wall of U.S. sanctions against Venezuela, which include a
ban on trade in Venezuelan debt for U.S.-based entities. Since any
debt restructuring and refinancing…

Venezuela will seek options for restructuring its debt after
state-owned PDVSA pays US$1.2 billion on a bond that matured
yesterday. This is what the country’s president, Nicolas Maduro,
said in a statement, which has reinforced concern that Venezuela is
close to defaulting on debts, whose total amount is about US$150
billion. Any attempt at debt restructuring, AFP notes, would run
into the wall of U.S. sanctions against Venezuela, which include a
ban on trade in Venezuelan debt for U.S.-based entities. Since any
debt restructuring and refinancing…