Venezuela begins refinancing its foreign debt
Photo provided by Venezuela's Presidency showing Vice President Tarek El Aissami (C), during a meeting with foreign debt bondholders from various countries, in Caracas, Venezuela on Nov. 13, 2017. EPA-EFE/Venezuela's Presidency
Caracas, Nov 13 (efe-epa).- The Venezuelan government said Monday that the country has successfully begun the process of refinancing its foreign debt in a meeting earlier in the day in Caracas with bondholders from various countries.
Venezuelan government representatives met with creditors to try and renegotiate the debt, an initial meeting from which no agreements or concrete proposals emerged and at which the Nicolas Maduro administration reported to the creditors its limits on paying.
The government in a communique called the meeting a "resounding success" and said that Venezuela is negotiating the refinancing of the debt to "fully comply with our obligations."