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U.S. Treasury OKs Venezuela Advisers for $60 B Restructure

5/6/2026

27 4 Full Breakdown

Summary

Story summary

The U.S. Treasury granted Venezuela permission to hire advisers to begin restructuring about $60 billion of defaulted bonds, covering the government and state-owned oil firm PDVSA while prohibiting direct debt negotiations.
After the announcement, 2027 bonds rose more than two cents to about 55 cents on the dollar, their highest level since 2016.
The United States has urged the World Bank and IMF to re-engage with Venezuela.

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Story summary

The U.S. Treasury granted Venezuela permission to hire advisers to begin restructuring about $60 billion of defaulted bonds, covering the government and state-owned oil firm PDVSA while prohibiting direct debt negotiations.
After the announcement, 2027 bonds rose more than two cents to about 55 cents on the dollar, their highest level since 2016.
The United States has urged the World Bank and IMF to re-engage with Venezuela.