“This is a game-changer. Before the announcement, the will of Venezuela to pay was strong,” Moya-Ocampos said. “The fact that this restructuring is not accompanied by an economic reform plan tells us we can’t say that anymore.”
PDVSA also delayed an $81 million bond payment that was due Oct. 12 under a 30-day grace period.
Making things harder for Venezuela’s restructuring effort is Maduro’s pick to lead it: Vice President El Aissami. Earlier this year, El Aissami also was sanctioned by the U.S. government amid allegations of being a drug kingpin. He is also barred from doing business with Americans.
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Read the full article at: https://www.cnbc.com/2017/11/03/venezuela-faces-uphill-battle-to-restructure-its-massive-debt.html