After Years in the Cold, Venezuela Is Ready to Talk About Its Debt Pile
With $154 billion of debt, any restructuring of the South American nation is going to be complex
Nicolas Maduro, Venezuela's president, during the 23rd States of the Bolivarian Alliance for the Peoples of Our America - People's Trade Treaty (ALBA-TCP) Summit at Miraflores Palace in Caracas, Venezuela, on Wednesday, April 24, 2024.
Photographer: Gaby Oraa/BloombergWelcome to The Brink. We’re Nicolle Yapur in Bogota and Zijia Song in New York, and we’re looking into what could herald the beginning of a complicated debt restructuring in Venezuela. We also have the latest on Thames Water, AMC and Hertz. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @NicolleYapur.
The restructuring of Venezuela’s $154-billion debt pile is expected to be a long and painful process. Untangling a web of creditors that spreads from China to Russia and includes hundreds of claims will likely take years — all against a backdrop of an economy that, while not in deep crisis mode anymore, is still mired in political turmoil.