Venezuela launches $150bn debt restructuring process
Government looks to rework both sovereign and national oil company’s debt
Venezuela has announced one of the world’s largest-ever restructuring processes for sovereign debt.
In a statement on May 13, the office of the country’s vice-presidency for the economy said the current debt load “constrains external financing, limits public investment capacity, and prevents full re-engagement with the international financial system”.
This development is broadly in line with our expectationsShamaila Khan, UBS
The government said it would look to rework the debt “issued in the
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