No headway in Venezuela debt talks

[Zorro]

Venezuela hosted a brief meeting of creditors on Monday as the struggling yet oil-rich country sought to stave off a default seen as inevitable by experts, while the EU stepped up the pressure with new sanctions on Caracas.

However, the 25-minute closed-door gathering in a government building across from the presidential palace ended with no agreement and no plan broached, several participants said. Another meeting was promised, but no date was given.

Vice President Tareck El Aissami chaired the meeting, during which he read a statement blaming US sanctions for delays to Venezuela's debt repayments.

His presence was problematic for some, as the US has designated him a drug kingpin with whom US entities are barred from dealing.

https://www.yahoo.com/news/venezuela-meets-creditors-debt-default-looms-164355622.html

[GatoGordo]

1. A full half hour of blaming the United States

and not a moment spent on talk of how a debt restructure would occur.

Not that it matters. The fact that the narco-terrorist El Aissami was there was proof enough that Chavismo isn't serious about paying their debt. They know full well that El Aissami is a poison pill, and the fact that half the debt holders walked out of the meeting the minute they saw him there spoke volumes of what the plans of Chavismo are. Their press lapdogs at RussiaToday, VenezuelaAnalysis and TeleSur are already blaming the United States.

[GatoGordo]

2. Default official

S & P declares Venezuelan debt in foreign currency "default"
DolarToday / Nov 14, 2017 @ 10:30 am

The US credit rating agency Standard & Poors (S & P) downgraded Venezuela's sovereign debt in foreign currency to "default" on Tuesday after it failed to pay interests in two of its commitments.

The rating agency announced that the decision is justified by the fact that the Venezuelan authorities did not pay 200 million dollars of the corresponding coupons of global bonds issued with maturities in 2019 and 2024.

The payment was not made after this weekend the 30 days of the grace period were fulfilled.

Consequently, it placed SD / D (selective default / default) sovereign debt of Venezuela in the long and short term in foreign currency, the company said in a statement.

https://dolartoday.com/atencion-sp-declara-en-default-deuda-venezolana-en-divisas/