Friday , July 19 2019
Home / Project Syndicate / How to Address Venezuela’s Crushing Debt Burden

How to Address Venezuela’s Crushing Debt Burden

Summary:
The legacy of Chávismo includes a mountain of foreign-currency-denominated claims against the Venezuelan public sector, totaling 0 billion, almost all of which is now in default. When Nicolás Maduro finally leaves power, how can these claims be settled while meeting the country's desperate need for humanitarian relief and economic recovery? CAMBRIDGE – When he finally leaves the political stage in Venezuela, Nicolás Maduro will leave behind a grim legacy of oppression, suffering, and economic devastation. He will also leave a mountain of foreign-currency-denominated claims against the Venezuelan public sector – almost all of which is now in default – totaling over 0 billion. It will fall to

Topics:
Ricardo Hausmann considers the following as important:

This could be interesting, too:

Tyler Cowen writes Rhino bond markets in everything

Tyler Cowen writes Thursday assorted links

Menzie Chinn writes The Course of the US-China Trade War, Viewed through the Lens of Soybeans

Shlomo Ben-Ami writes No Economic Peace for Palestinians

The legacy of Chávismo includes a mountain of foreign-currency-denominated claims against the Venezuelan public sector, totaling $150 billion, almost all of which is now in default. When Nicolás Maduro finally leaves power, how can these claims be settled while meeting the country's desperate need for humanitarian relief and economic recovery?

CAMBRIDGE – When he finally leaves the political stage in Venezuela, Nicolás Maduro will leave behind a grim legacy of oppression, suffering, and economic devastation. He will also leave a mountain of foreign-currency-denominated claims against the Venezuelan public sector – almost all of which is now in default – totaling over $150 billion. It will fall to Venezuela’s interim government to move promptly to arrest the deep humanitarian crisis, restore the country’s shattered economy, and deal with these gargantuan legacy debts. All three efforts must be attempted simultaneously. None will be easy.

Leave a Reply

Your email address will not be published.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