Venezuela offers chocolates but little else to creditors

[Zorro]

Venezuela’s socialist government gifted chocolates to creditors on Monday, but offered no firm proposals at a brief meeting in Caracas that left investors without a clear understanding of the government’s strategy to renegotiate $60 billion in debt.

President Nicolas Maduro confused investors this month with a vow to continue paying Venezuela’s crippling debt, while also seeking to restructure and refinance it.

Both restructuring and refinancing appear out of the question, however, due to U.S. sanctions against the crisis-stricken nation. A default would compound Venezuela’s dire economic crisis.

Monday’s short and confused meeting, attended by senior Venezuelan officials blacklisted by the United States, gave no clarity on how Maduro would carry out his plan, bondholders and their representatives who participated said afterwards.

https://www.reuters.com/article/us-venezuela-bonds/venezuela-offers-chocolates-but-little-else-to-creditors-idUSKBN1DD0IG

[GatoGordo]

1. They allegedly offered a nice selection of imported rums (invite only) for the tasting

if you wanted to hob-nob with Vice President Tareck El Aissami and Economy Minister Simon Zerpa. (Illegal for US interests to meet with these two sanctioned individuals)

[GatoGordo]

2. Maduro cannot refinance debt without the democratically elected National Assembly

Debt renegotiation must occur with AN approval. The ANC is meaningless to debt holders

Translated from Spanish

The political leader María Corina Machado said Tuesday that the president of Venezuela, Nicolás Maduro, "the only thing he does is lie and the first lie is to call this dialogue".

Likewise, she indicated in "Café CNN", broadcast by CNN en Español, that "the regime needs money and wants to force the opposition to negotiate so that the National Assembly (AN) refinances the debt" and added that "we were very close to achieve the break for the transition to democracy and after 16-J imposed the National Constituent Assembly (ANC). "

He said that the country realized that there is a sector "willing to accept crumbs and give time to the dictatorship" and added that "we know that the regime is at its moment of greatest weakness. They subject the people to hunger and misery. You have to be consistent. In Venezuela today there are no elections, but military exercises. The only real thing is hunger."

https://dolartoday.com/inaceptable-machado-el-regimen-necesita-dinero-y-quiere-obligar-la-oposicion-negociar/