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Friday, December 1, 2017
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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