Venezuela’s debt problem: To default or to pay

bbc

As creditors meet in Caracas to renegotiate the country’s foreign debt, BBC South America correspondent Katy Watson takes a closer look at Venezuela’s debt problem and the challenges facing the government.

What is the Venezuelan government proposing?

President Nicolás Maduro said on 2 November that the country would “refinance and restructure” all of Venezuela’s external debt, meaning that the government would effectively renegotiate the terms of how it repays the money it owes to foreign investors.

The reason President Maduro cited for the move was to “fight against the financial persecution of our country”, a reference to the US sanctions that have targeted members of the Maduro administration

Read more : BBC, 15.11.2017