Venezuela’s Maduro dismisses default likelihood on eve of financial debt talks

Venezuelan President Nicolas Maduro claimed on Sunday the country would under no circumstances default on its financial debt, a day prior to financial debt talks with collectors that will be overseen by two officials below sanction by the United States. Vice President Tareck El Aissami and Economy Minister Simon Zerpa will meet with collectors in Caracas on Monday, Maduro claimed, contradicting before reviews that sanctioned officials would skip the assembly to cut down trader nervousness about attendance. The talks are aimed at beginning to restructure about $sixty billion in bonds. U.S. sanctions have designed it practically unattainable for Venezuela to refinance financial debt because U.S. banking institutions are unable to acquire newly issued Venezuelan bonds. Restructuring talks are similarly problematic because the sanctions bar investors from dealings with several officials on the newly appointed financial debt commission.

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