Venezuela's debt crisis deepens
It's crunch time in Caracas after the country defaulted on two bond payments and oil output continued its freefall
Venezuela's debt problem is quickly spiraling out of control. On Monday, the government blew through a 30-day grace period on $200m in coupon payments due for its 2019 and 2024 bonds without paying, leading the credit ratings agency S&P to declare the country in default on those bonds and in selective default on its long-term debt. The Luxembourg Stock Exchange suspended trading of the bonds, totaling nearly $5bn. Another $420m in coupon payments on four more bonds are also late, but still within their grace periods. Defaulting on those would raise the risk of a cascading and chaotic sovereign default. The timing could hardly have been worse. The first default came on the same day Presid
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
