Key facts
- Venezuela aims to publish its debt sustainability analysis "very soon."
- The country is working on restructuring an estimated $150-200 billion debt pile.
- Top economic adviser Calixto Ortega expressed optimism about publishing the documents.
- Dollarization is not considered the right answer for Venezuela.
- Venezuela aims to reach two-digit inflation in the medium term.
- The country is signing agreements with gold producers to store gold in the central bank and build international reserves.
Venezuela is hoping to publish a debt sustainability analysis "very soon," according to top economic adviser Calixto Ortega, who spoke during the IMF-World Bank meetings. Ortega stated that the process has been more challenging than expected, with previous delays in delivering macroeconomic and debt frameworks attributed to devastating earthquakes that struck the country in June. Venezuela had initially aimed to deliver these documents in June and had been working on them since announcing plans in May to restructure its debt.
Ortega emphasized that publishing these documents is a priority and expressed optimism about the timeline. The potential restructuring of Venezuela's estimated $150-200 billion debt pile could be the largest in history, complicated by a unique web of creditors.