LatinNews Daily - 14 May 2026

*Venezuela’s economy ministry has announced plans for a “comprehensive and orderly” restructuring of external debt owed by the government and state oil company Petróleos de Venezuela (Pdvsa). No concrete details on the restructuring plan were shared in the economy ministry’s statement, but the announcement comes after the US eased its sanctions on Venezuela on 5 May to facilitate a debt restructuring, and after Venezuela last month resumed dealings with the International Monetary Fund (IMF) and the World Bank after a seven-year pause in relations. Yesterday’s statement blamed Venezuela’s large public debt – estimated at US$150-200bn by international credit ratings agency S&P Global – on international sanctions imposed since 2017. It said that these had left the country “deprived of normal access to finance” and meant that the government “lost the ability to invest in healthcare, electricity, water, education, infrastructure, the recovery of production, and the population’s wellbeing”. The statement added that “Venezuela now has a historic opportunity to significantly expand its economic potential in order to guarantee the future of the coming generations, thanks to the development of constructive and productive diplomatic agendas”.

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