Venezuela’s Opposition Sets Out Debt Restructuring Plans

Venezuela’s opposition plans to treat equally creditors ensnared in the country’s $150bn web of defaulted debt if President Nicolás Maduro is removed — after weeding out inflated, fraudulent, or corrupt claims, the Financial Times reported. In a new policy paper, advisers to US-backed opposition leader Juan Guaidó sketch out how his administration would go about restructuring Venezuela’s huge and varied stock of debt, which includes unpaid supplier invoices, expropriation claims and defaulted bonds, among other instruments. Given the complexity of the claims, the opposition government plans to hold all its foreign creditors to the same terms no matter the kind of debt held, which public entity issued it, and whether or not the creditor had previously gone to a courthouse and received a judgment. Read more

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