Venezuelan creditors say gov't-opposition deal helpful for debt restructuring

© Reuters. A customer counts Venezuelan Bolivar notes at a stall in a municipal market in Caracas, Venezuela February 10, 2023. REUTERS/Gaby OraaCARACAS - The Venezuela Creditors Committee said on Monday it is confident an orderly debt restructuring can occur, following an electoral agreement reached between the government and the opposition that led the United States to ease some sanctions in the oil sector.

The easing came in response to an agreement signed between the government and the opposition last week in Barbados that allows international observers, among other things, for the presidential election scheduled for the second half of 2024. The creditors committee, which groups investors with some $11 billion in bonds, said in a statement that it is"confident the actions by the U.S. government and the commitments of the Maduro administration and Venezuelan opposition will ultimately lead to the orderly restructuring that Venezuela so desperately needs."

Source: Loan Digest (loandigest.net)

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