Venezuela Aims to Publish Debt Sustainability Analysis 'Very Soon', Adviser Says
CARACAS — Venezuela hopes to publish a debt sustainability analysis 'very soon', though the process has been more challenging than expected, top economic adviser Calixto Ortega told a panel during the IMF-World Bank meetings in Bangkok on October 14, Reuters reported. Venezuela announced plans in May to restructure its debt and has been working on macroeconomic and debt frameworks to underpin the process since then.
Ortega said the documents had been aimed for delivery in June and were 'almost ready' before devastating earthquakes struck the country that month. He called publishing the documents a priority and said he was very optimistic. Venezuela's debt pile to be restructured is estimated at US$150 billion to US$200 billion, which could make it the largest restructuring in history, complicated by a unique web of creditors, according to Reuters.
Ortega also said dollarisation is 'not the right answer' for Venezuela and that the country needs to strengthen its local currency and institutions, and that Venezuela wants an inflation-targeting framework in the medium term and aims to reach two-digit inflation sooner rather than later. In a separate Reuters report the same day, a notice on the U.S. Treasury Department's website showed the Trump administration has lifted sanctions on Jorge Rodriguez, head of Venezuela's National Assembly.
(Source: Reuters)
Source: GSM · USA (original Chinese edition)
Photo: Luis Jaimes／CC BY-SA 3.0（Wikimedia Commons）
