Venezuela Announces $170 Billion Debt Restructuring on May 14, Seeks Capital Market Re-entry

According to Wall Street Journal, Venezuela announced on May 14 its plan to restructure $170 billion in government debt, seeking to normalize relations with creditors and re-enter international capital markets as ties with the U.S. improve. The restructuring is expected to be among the largest and most complex sovereign debt workouts. Creditors include investors holding Venezuelan government and state oil company bonds, as well as enterprises claiming billions in compensation for asset seizures.
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