Key facts
- US President Donald Trump and Venezuela's interim President Delcy Rodriguez discussed sovereign debt restructuring.
- US Secretary of State Marco Rubio stated that Venezuela has "probably the world's largest sovereign debt that has to be restructured."
- Venezuela and its state oil firm Petroleos de Venezuela have about $60 billion of bonds in default, with total liabilities potentially exceeding $150 billion.
- The meeting occurred at a reception hosted by Trump on the sidelines of the UN General Assembly.
- Venezuelan opposition leader Maria Corina Machado's attempts to return to Venezuela failed.
- Interim President Delcy Rodriguez stated that Venezuela will hold elections as part of a transition to democracy.
US President Donald Trump and Venezuela's interim President Delcy Rodriguez discussed the restructuring of the South American nation's sovereign debt, US Secretary of State Marco Rubio said. The meeting occurred at a reception Trump hosted on the sidelines of the UN General Assembly. Rubio described the meeting as short but important, noting that Venezuela has "probably the world's largest sovereign debt that has to be restructured" and that the United States wants to assist. The government and state oil firm Petroleos de Venezuela have about $60 billion of bonds in default, with total liabilities potentially exceeding $150 billion when accrued interest, other claims, and arbitration awards are included. Separately, Venezuelan opposition leader Maria Corina Machado's attempts to return to Venezuela failed. Rodriguez also told the UN General Assembly on Wednesday that the country will hold elections as part of a transition to "full democracy," though she did not provide a specific date for the vote.