Latin America Advisor: Will Venezuela Be Able to Restructure Its Billions in Debt?

President Nicolás Maduro this month called for a restructuring of Venezuela’s massive debt, estimated at $120 billion. The announcement led to a selloff in the country’s bonds and was seen as a sign that Maduro’s government may finally be reaching the limits of its ability to pay its debts. Russia later agreed to a $3.5 billion debt restructuring with Venezuela. How much success will Maduro have in restructuring Venezuela’s debt, and could such a move lead Venezuela to emerge from its economic crisis? Will support from foreign governments be enough for Venezuela to stave off default? What effect are U.S. economic sanctions having on Venezuela, and how would the sanctions inhibit a potential debt restructuring? What would a restructuring attempt mean for Maduro and his hold on power?

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https://www.thedialogue.org/resources/will-venezuela-be-able-to-restructure-billions-in-debt/