REUTERS/Carlos
Garcia Rawlins
-
President Nicolas Maduro announced Venezuela will look
to restructure its US$89 billion worth of debt to be able to
continue servicing it. -
Forecasts about what will happen next are all
pessimistic. -
By the end of next year, the government and state-owned
PDVSA must repay debt obligations to the tune of $13 billion,
and foreign currency reserves are less than that already, at
$10 billion. -
Plus, Venezuela is subject to economic sanctions
from the United States, which prohibit any U.S. entities
from taking part in any business dealings with Venezuela,
including debt restructuring.
…
Read the full article at: http://www.businessinsider.com/venezuela-default-pdvsa-questions-2017-11