As a Debt Deadline Looms for Venezuela, Maduro Is Defiant

New York Times, Nov 3, 2017
by Kirk Semple and Clifford Krauss

CARACAS, Venezuela — With the threat of default looming over Venezuela, President Nicolás Maduro said late Thursday that his government would initiate a restructuring and refinancing of the country’s foreign debt.

The announcement came at the deadline for a $1.2 billion payment by the state oil company on a maturing bond, which Mr. Maduro said his government would instead deliver on Friday.

Speaking on national television, Mr. Maduro said that his government was fighting “a battle for the financial stability and tranquillity of Venezuela.”

“We’re going to win this battle,” he vowed.

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