The Daily Journal — Venezuela is preparing to disclose public debt approaching $240 billion, a figure far higher than previous market estimates and one that would make the country the center of the largest sovereign debt restructuring in history, the British newspaper Financial Times reported on Wednesday. According to the financial newspaper, the administration led […]
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Alejandro J. Sucre — Venezuela faces one of the most complex sovereign debt restructuring processes in its history. The scale of the challenge is undeniable: years without international audits, debt instruments scattered across multiple jurisdictions, opaque bilateral debt with China and Russia, and arbitration awards issued by the International Center for Settlement of Investment Disputes […]
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The Daily Journal — Venezuela’s National Academy of Economic Sciences (ANCE) has warned that the country will require a “significant reduction in the nominal value of its debt” and support from multilateral institutions such as the International Monetary Fund (IMF) if it hopes to achieve a viable and internationally credible restructuring of its external obligations. […]
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José Gregorio Yépez Economists who follow Venezuela closely agree that the U.S. dollar exchange rate plays a central role in shaping the country’s current economic reality. Price behavior in Venezuela remains closely tied to fluctuations in the value of the U.S. currency in the local market. As a result, maintaining exchange-rate stability has become a […]
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The Daily Journal — The International Monetary Fund (IMF) and representatives of the Venezuelan government held a high-level meeting in Washington last weekend to define areas for immediate technical cooperation. The meeting advanced efforts to resume the periodic bilateral consultations known as Article IV consultations, through which the IMF formally assesses the financial health of […]
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The Daily Journal — The International Monetary Fund (IMF) appointed Spanish economist Álvaro Piris Chavarri as its new mission chief for Venezuela, according to sources familiar with the matter cited by Bloomberg. The move signals progress toward rebuilding the institution’s relationship with the country after years of distance. Piris brings a background in macroeconomics and […]
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Yahvé Álvarez.- “A lengthy audit and an exhaustive investigation of Venezuela’s debt, of every bond, paper, and ticket, would be necessary in the event of repayment, and that would require at least eight or nine months, which would be ideal to thoroughly examine the debt without harming honest investors while also avoiding excessive payments that […]
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The Daily Journal.- The International Monetary Fund (IMF) reported this Thursday that, for the moment, it remains on the sidelines of the debt restructuring strategy announced by the Venezuelan government. According to a report by the EFE news agency, the multilateral organization has not participated in the design of the economic framework or the debt […]
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The Daily Journal.- The recognition by the multilateral institution opens doors for Venezuela to emerge from its economic crisis, but it also leaves many questions unanswered. José Gregorio Yépez Mentioning the International Monetary Fund (IMF) frightens some people, while others see it as an opportunity. For younger generations, it is probably something new, unfamiliar — […]
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