Cash-strapped Venezuela Seeks Deal With Bondholders Despite Sanctions

Venezuela’s finance minister on Tuesday offered to speak with bondholders about a potential renegotiation of the cash-strapped country’s debt, which economists and financial industry sources said would face challenges due to U.S. sanctions, Reuters reported. The OPEC nation in 2017 suspended payments to holders of many bonds issued by the government, state oil company Petroleos de Venezuela and utility Electricidad de Caracas, and sought to initiate a restructuring process. But that process got derailed by an escalating political crisis in Venezuela, in the midst of a six-year economic collapse, as well as U.S. sanctions aimed at ousting President Nicolas Maduro that barred U.S. citizens and companies from meeting with Venezuelan officials. Read more

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