#defult

Venezuela opposition pledges equal treatment for creditors in possible restructuring CARACAS — Venezuelan opposition leader Juan Guaido’s economic advisors have proposed treating most creditors equally in a possible debt restructuring should the coalition oust President Nicolas Maduro from power, according to a document published on Wednesday. The South American country has debts worth around $200 billion to a diverse group of bondholders, commercial suppliers to state-owned firms with unpaid accounts receivable, and companies whose Venezuelan assets were expropriated. It is currently experiencing its worst economic crisis in history, marked by hyperinflation as well as chronic food and medicine shortages. The government has defaulted on most of its debt, but creditors are reluctant to negotiate a restructuring due to U.S. sanctions intended to force Maduro from power. The promise of “equal treatment” is intended to discourage creditors from filing lawsuits against Venezuela or state-owned oil company PDVSA in U.S. courts in order to accelerate payment, according to the document written by Guaido’s lawyers released by the opposition-controlled National Assembly. “We will not give any preferential treatment in the renegotiation to those claims that have been the object of a judicial decision,” the document reads. “As a result, the authorities request all parties to abstain from initiating judicial actions.” The move comes more than five months after Guaido, a lawmaker who leads the Assembly, invoked Venezuela’s constitution to assume an interim presidency, arguing Maduro’s May 2018 re-election was illegitimate. He has been recognized by dozens of countries, including the United States.

I don’t really have a preference on where I would want to visit. I’ve seen the world digitally, and that really is good enough for money. The only reason I would want to visit would be for the culture.