Centerview Remains Venezuela's Financial Adviser on Debt Restructuring, Top Economic Adviser Says
US financial services firm Centerview Partners remains the financial adviser for Venezuela's debt restructuring, the country's top economic adviser Calixto Ortega told Reuters on October 16 on the sidelines of the IMF and World Bank annual meetings in Bangkok. "We are very happy with them," Ortega said, adding that he had held discussions with the firm this week.
Venezuela announced in May that it had hired Centerview as its financial adviser after launching a restructuring of its sovereign debt and that of state oil firm PDVSA. In June, it was reported that US investment bank Lazard was bidding to try to replace Centerview. Ortega told Reuters Centerview remained very much involved in the restructuring process.
Earlier this week, Ortega said Venezuela was hoping to publish a debt sustainability analysis "very soon", but the process has been more challenging than expected. The restructuring of the country's estimated $150 billion to $200 billion debt pile could be the largest in history and is complicated by a unique web of creditors. (GSM, based on Reuters reporting)
Source: GSM · USA (original Chinese edition)
Photo: 加拉加斯与阿维拉山。Caracas and Avila mountain. Photo by Flauta, Wikimedia Commons, CC BY-SA 3.0.
