Venezuela is attempting to negotiate a rapid restructuring of debts and financial claims approaching $200 billion while the country recovers from destructive earthquakes. The proposed process would be one of the most complicated sovereign debt restructurings ever attempted. Government officials want to restore access to international investment and financing, but some creditors and economists are concerned that moving too quickly could create another crisis later. Earthquake damage has increased pressure on public finances and infrastructure at a time when Venezuela is already dealing with years of economic instability, sanctions and reduced confidence in state institutions.
