Venezuela Set to Disclose $240bn Debt Burden in Largest Sovereign Restructuring on Record
Caracas is preparing to acknowledge about $240 billion in liabilities, a figure that would make it the largest sovereign restructuring on record, the Financial Times reports.
- Venezuela is preparing to acknowledge a debt of close to $240 billion, according to the Financial Times, putting Caracas on the brink of the largest restructuring ever recorded, surpassing Greece's historic default in 2012.
- Interim president Delcy Rodríguez aims to strike a deal with creditors this year, seeking to return Venezuela to international capital markets after nearly a decade of exclusion following Maduro's tenure.
- Sovereign and PDVSA bonds comprise around $60 billion in documented debt, with a further $40 billion in accrued interest, while the central bank reported first-quarter crude revenues of $5.5 billion.
- Centerview Partners is finalizing a viability plan for early July; yet the debt sustainability analysis lacks the signature of the International Monetary Fund, which maintains only technical contacts with Caracas.
- Few believe an agreement will be reached in 2026, with most observers already looking to 2027, while the Venezuelan opposition fears the country could be left in a vulnerable position with creditors.
29 Articles
29 Articles
The real magnitude of the economic bankruptcy inflicted by the Chavista regime in Venezuela is about to be exposed to international markets: According to an exclusive report by the Financial Times, the South American nation is preparing to reveal to its creditors an accumulated debt of $240 billion. This figure far exceeds the previous estimates of investors, which placed indebtedness between $150,000 and $200 billion. With this volume of unpaid…
Venezuela set to disclose $240bn debt burden in largest sovereign restructuring on record
Venezuela is preparing to disclose external obligations approaching $240bn, a figure well above previous market estimates, in what would rank as the largest sovereign debt restructuring ever attempted, the FT reported.
Venezuela is preparing to reveal a debt mountain of $240 billion, much larger than previously imagined, by embarking on the largest sovereign debt restructuring in history, on the mat of Nicolás Maduro's deposition by the United States. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Venezuela faces record debt restructuring
Venezuela is in far greater debt than previously believed, but the US-imposed regime change may provide the opportunity to restructure. The socialist-led country’s GDP has collapsed from $370 billion in 2012 to around $100 billion today. Caracas is expected to reveal a debt pile of $240 billion in the coming weeks, the Financial Times reported, compared to previous estimates of $150-$200 billion. It will offer creditors partial repayment in the …
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