Fri. Mar 29th, 2024

Caracas, July 4: Venezuelan opposition chief Juan Guaido’s financial advisor have put forth proposals to equally treating creditors in potential debt reconstruction, according to a published document on Wednesday.

According to Reuters news reports, Venezuela has debts worth about $200 billion to a vast group of commercial suppliers, bondholders to state-owned entities with unpaid accounts payable, and firms whose assets in Venezuela were expropriated.

Venezuela, currently struggling its worst economy breakdown in history, has been marked by chronic medicine and food shortages, as well as, hyperinflation. The Venezuelan government defaulted on most of its debt, though creditors seemed reluctant to negotiate a debt reconstructing due to sanctions imposed on the crisis-hit Venezuela by the United States, intended to force oust embattled President Nicolas Maduro.

The “equal treatment” promise is intended to prevent creditors from filing legal lawsuits in the US courts against its firms or state-owned PDVSA oil firm to accelerate income, as per the document issued by Guaido’s lawmakers released by his controlled National Assembly.

The document read: “We will not give any preferential treatment in the renegotiation to those claims that have been the object of a judicial decision. As a result, the authorities request all parties to abstain from initiating judicial actions.”

The development comes over five months after the oppostion leader invoked constitution by declaring himself as an interim president of the nation, arguing Maduro’s reelection in May 2018 was frauded and illegitimate.

Leave a Reply

Your email address will not be published. Required fields are marked *