Venezuela seeking debt restructuring: President Maduro
President Nicolas Maduro
Caracas - Egypt Today
Venezuela is looking to restructure all its foreign debt, President Nicolas Maduro said Thursday -- the day state oil company PDVSA had to pay $1.2 billion in maturing bonds to avoid a default.
"I decree a refinancing and a restructuring of all external debt and all of Venezuela's payments," Maduro said.
He said PDVSA would make its big bond payout on Friday.
Venezuela's total external debt is estimated at $150 billion.
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