Post #1314

Venezuelan opposition politicians have endorsed the extension of the validity of defaulted debt instruments issued by the Venezuelan government and state oil company PDVSA. The defunct 2015 National Assembly announced its decision over a Zoom call on Tuesday. The accord, which still requires approval from the US Treasury Department, suspends an upcoming statute of limitations on Venezuelan bonds, thus deterring legal claims and leaving open the possibility of debt renegotiations. Hans Humes, chairman of the Greylock Capital Management group that owns more than $10 billion in Venezuelan debt, praised the move amidst a “legal quagmire” caused by Washington’s Venezuela policies. https://venezuelanalysis.com/news/15827