On Thursday, at a raucous gathering of loyal supporters in Caracas, President Nicolas Maduro made official what the bond market had been anticipating for years: cash-strapped Venezuela is going to seek debt relief.
Blaming the financial sanctions imposed by the U.S. government — and its lackeys in the Venezuelan opposition who lobbied for such measures — Maduro said that a $1.1 billion principal payment on bonds from state-run oil company PDVSA that was due Thursday will be the last one made before the country begins talks with creditors.
Vice President Tareck El Aissami, who was tapped to lead the efforts, said Friday that Venezuela and PDVSA will continue to meet its obligations while the parties renegotiate the debt, and…
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