Venezuela's Long And Winding Road To Debt Restructuring

As if muddling through a humanitarian crisis and a sharpening political stand-off between authoritarian Nicolás Maduro and opposition leader Juan Guaidó weren’t bad enough, Venezuela will soon have to wade through what is said to be one of the messiest debt restructurings in history, the Financial Times reported. What will make Venezuela’s forthcoming debt workout so difficult to resolve is not just the amount of IOUs sitting on its balance sheet, but the diversity of its creditor base. Like most metrics in Venezuela, these exact figures are difficult to come by. A new report by the Institute of International Finance (IIF) tries to address this, quantifying how much Venezuela owes and to whom. Read more

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