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Showing posts with label Blockade. Show all posts

Sovereign Debt: Venezuela announces deal with individual creditors

Sovereign Debt: Venezuela announces deal with individual creditors


CARACAS, Venezuela: The Venezuelan government announced on Friday an agreement with individual creditors to restructure terms of its sovereign debt.

Because the government has been in default for three years, the deal is intended to ease terms of the debt so it could fulfill its financial obligations.

The Ministry of Economy, Finance and Foreign Trade said the deal is proof of “the permanent will of the issuers to comply with their obligations, regardless of the effects that external factors may have caused on the payment capacity of the issuers.”

It said the agreement was based on a proposal by the government in September that consisted of interrupting accruing interests in exchange for negotiating a restructure of the defaulted debt.

Vice President Delcy Rodriguez said at the time that the country is committed to fulfilling its obligations despite international pressures.

"Venezuela has always been characterized by faithfully fulfilling its payment obligations for foreign debt services, despite the multiform criminal aggression perpetrated against the country," said Rodriguez.

The announcement Friday mentions that the deal is no longer available in its current form to creditors who refused to negotiate in September.

But the ministry made clear the Venezuelan is willing to talk and negotiate with creditors “with the purpose of achieving a debt restructuring in accordance with the rights and interests of all parties.”

And for creditors in countries with tense diplomatic and financial relations with the Venezuelan government, the announcement said: “For those bondholders who may have some type of limitation arising from their respective laws, national regulations or others and that limits them to establish contact with the issuers, it will be expected until such limitation is overcome in order to establish the conversations to which there may be the place.”



CARACAS, Venezuela: The Venezuelan government announced on Friday an agreement with individual creditors to restructure terms of its sovereign debt.

Because the government has been in default for three years, the deal is intended to ease terms of the debt so it could fulfill its financial obligations.

The Ministry of Economy, Finance and Foreign Trade said the deal is proof of “the permanent will of the issuers to comply with their obligations, regardless of the effects that external factors may have caused on the payment capacity of the issuers.”

It said the agreement was based on a proposal by the government in September that consisted of interrupting accruing interests in exchange for negotiating a restructure of the defaulted debt.

Vice President Delcy Rodriguez said at the time that the country is committed to fulfilling its obligations despite international pressures.

"Venezuela has always been characterized by faithfully fulfilling its payment obligations for foreign debt services, despite the multiform criminal aggression perpetrated against the country," said Rodriguez.

The announcement Friday mentions that the deal is no longer available in its current form to creditors who refused to negotiate in September.

But the ministry made clear the Venezuelan is willing to talk and negotiate with creditors “with the purpose of achieving a debt restructuring in accordance with the rights and interests of all parties.”

And for creditors in countries with tense diplomatic and financial relations with the Venezuelan government, the announcement said: “For those bondholders who may have some type of limitation arising from their respective laws, national regulations or others and that limits them to establish contact with the issuers, it will be expected until such limitation is overcome in order to establish the conversations to which there may be the place.”


ACIS-M URGES ALL TO JOIN FORCES WITH CUBA & ALL SOLIDARITY MOVEMENTS ACROSS THE WORLD ON THUR DECEMBER 17 IN THE CLARION TO END THE CRIMINAL US-BLOCKADE

ACIS-M URGES ALL TO JOIN FORCES WITH CUBA & ALL SOLIDARITY MOVEMENTS ACROSS THE WORLD ON THUR DECEMBER 17 IN THE CLARION TO END THE CRIMINAL US-BLOCKADE

📢🇨🇺 *24 HOUR GLOBAL VIRTUAL PICKET DEMANDING:* 📢🇨🇺

*>> END TO THE U.S. BLOCKADE ON CUBA!*

*>> AWARD CUBA’S INTERNATIONAL MEDICAL BRIGADE THE NOBEL PRIZE!*

~ Participate in any language! ~

_24-hour program featuring speakers, video, music & greetings from around the world as we demand an end to the unjust U.S. blockade on Cuba!_

🗓️ Day: Thursday, December 17, 2020

⏰ Time: From Midnight to Midnight Havana time

Log in for local programing from 6-8pm your local time

💻📱Register on Zoom here

*🇨🇺✊🌎On December 17, 2020 we will mark the 6th anniversary of the freedom of the Cuban 5 and the promises made to Cuba regarding U.S.- Cuba relations. Specifically, we will join together to demand an end to the unjust U.S. blockade on Cuba!*

_*We will also celebrate 60 years of the Cuban Institute of Friendship with the peoples (ICAP).*

*HOW CAN YOU GET INVOLVED?* 

1️⃣ Make sure to register.

2️⃣ Make your own video message against the blockade in any language! 

⏱️Duration: 1-3 minute

📲 Send over WhatsApp to +1-778-882-5223 

or

📩 Email: [email protected] (with Wetransfer or other file transfer services).

3️⃣ Share our social media posts with your supporters, help get the word out!

🔸Facebook: https://www.facebook.com/CanadianNetworkOnCuba

🔸Twitter: @cdnntwrkoncuba

🔸Instagram: @cdnntwrkoncuba

4️⃣ Everyone is encouraged to share photos and videos on social media platforms on December 17, such as Twitter, Instagram, and Facebook throughout the day. We will feature them during the 24-hour picket program.

#️⃣ Use hashtags: #UnBlockCuba2021 #Cubavsbloqueo #UnBlockCuba #Nobel4CubanDoctors #NobelCuba

💻 For more information: https://www.canadiannetworkoncuba.ca/

📢🇨🇺 *24 HOUR GLOBAL VIRTUAL PICKET DEMANDING:* 📢🇨🇺

*>> END TO THE U.S. BLOCKADE ON CUBA!*

*>> AWARD CUBA’S INTERNATIONAL MEDICAL BRIGADE THE NOBEL PRIZE!*

~ Participate in any language! ~

_24-hour program featuring speakers, video, music & greetings from around the world as we demand an end to the unjust U.S. blockade on Cuba!_

🗓️ Day: Thursday, December 17, 2020

⏰ Time: From Midnight to Midnight Havana time

Log in for local programing from 6-8pm your local time

💻📱Register on Zoom here

*🇨🇺✊🌎On December 17, 2020 we will mark the 6th anniversary of the freedom of the Cuban 5 and the promises made to Cuba regarding U.S.- Cuba relations. Specifically, we will join together to demand an end to the unjust U.S. blockade on Cuba!*

_*We will also celebrate 60 years of the Cuban Institute of Friendship with the peoples (ICAP).*

*HOW CAN YOU GET INVOLVED?* 

1️⃣ Make sure to register.

2️⃣ Make your own video message against the blockade in any language! 

⏱️Duration: 1-3 minute

📲 Send over WhatsApp to +1-778-882-5223 

or

📩 Email: [email protected] (with Wetransfer or other file transfer services).

3️⃣ Share our social media posts with your supporters, help get the word out!

🔸Facebook: https://www.facebook.com/CanadianNetworkOnCuba

🔸Twitter: @cdnntwrkoncuba

🔸Instagram: @cdnntwrkoncuba

4️⃣ Everyone is encouraged to share photos and videos on social media platforms on December 17, such as Twitter, Instagram, and Facebook throughout the day. We will feature them during the 24-hour picket program.

#️⃣ Use hashtags: #UnBlockCuba2021 #Cubavsbloqueo #UnBlockCuba #Nobel4CubanDoctors #NobelCuba

💻 For more information: https://www.canadiannetworkoncuba.ca/

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