Restructuring Venezuela’s Debt: Lessons from the Past and Implications for the Future

Autor:	Daniel A. Dias, Mark L. J. Wright, Camilo Alvarez
Rok vydání:	2018
Předmět:	Restructuring Strategy and Management media_common.quotation_subject 05 social sciences Financial system Debt restructuring Management of Technology and Innovation Debt 0502 economics and business Economics Debt ratio 050207 economics Sovereign debt Finance 050205 econometrics media_common
Zdroj:	The Journal of Investing. 27:74-79
ISSN:	2168-8613 1068-0896
DOI:	10.3905/joi.2018.27.3.074
Popis:	Venezuela’s incipient sovereign debt restructuring is likely to be difficult for a number of legal and diplomatic reasons. This article discusses three additional economic issues that will influence the success of any restructuring operation. First, we show that Venezuela’s total debt liabilities are not transparent and present evidence suggesting that available measures may be misleading as an indicator of the total debt-servicing cost. Second, we calculate that there are significant gains to re-profiling Venezuela’s debt and note that it is feasible for these gains to be realized if official debts are restructured in accordance with past practices. Third, we review data on Venezuela’s oil wealth and argue that it could be either a help or a hindrance to a successful debt restructuring.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::5e04d8c4892c7f0fd930a3e56e104e58 https://doi.org/10.3905/joi.2018.27.3.074 Zobrazit plný text záznamu