Venezuela Announces Plans to Restructure Debt
By Stephen Nakrosis
Venezuela said it will carry out a comprehensive restructuring of its external public debt obligations, and has appointed Centerview Partners as financial adviser for the effort.
Earlier this year, the Wall Street Journal reported that investment firms, such as T. Rowe Price ands Fidelity, are holding tens of billions of dollars in underwater Venezuelan bonds. Following the ouster of President Nicolas Maduro, investors could be rewarded for holding on to those assets, the Wall Street Journal added.
Venezuela defaulted on its sovereign debt in 2017.
A release from the country's Vice-Presidency for Economy said the nation intends to work toward normalizing its debt obligations, including debt issued in the form of Eurobonds by the nation and by state-owned oil and gas company Petroleos de Venezuela.
The country expects to present a macroeconomic framework and public debt sustainability analysis in June, the release said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 13, 2026 17:17 ET (21:17 GMT)
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