So why doesn't China pay
Venezuelan debt in American Dollars and Gain an appropriate level of control of Venezuela oil.
Russian leaders recently agreed to delay $ 3.5 billion of
Venezuelan debt payments, but that break is unlikely to resolve the South American nation's debt crisis.
Not exact matches
Holders of
Venezuelan bonds are meeting with each other and considering forming committees, advisers and fund managers told Reuters, as questions mount about the feasibility of President Nicolas Maduro's proposal to restructure $ 60 billion of
debt.
August saw the US's most drastic action, restricting the
Venezuelan government's access to the US financial system, preventing it and the state oil company, PDVSA, from issuing new
debt in US dollars.
«I'm really concerned that we're going to have a real collapse in Venezuela in oil production over the course of the next year,» which would in turn affect the government's ability to pay its
debt, Rodriguez — who was head of the
Venezuelan Congressional Budget Office from 2000 to 2004 — said at the AS / COA event.
Based on the cost of insuring
Venezuelan sovereign
debt, the markets are estimating an 80 percent chance of a default within the next year.
Venezuela seeks
debt restructuring
Venezuelan president Nicolas Maduro said Thursday that his country will seek to restructure the nation's outstanding
debt.
The
debt relief couldn't come at a better time for
Venezuelan President Nicolas Maduro.
The sanctions were imposed against all
Venezuelan officials, the country's
debt capabilities, as well as PDVSA officials.