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Venezuela bondholders inch toward showdown

Tuesday, January 24, 2017

Tillerson's history with Venezuela could signal push for 'transition to democracy'

“I think we are in full agreement as to the calamity that has befallen Venezuela, largely a product of its incompetent and dysfunctional government-first under Hugo Chavez, and now under his designated successor, Nicolas Maduro,” Tillerson wrote. “I would urge close cooperation with our friends in the hemisphere, particularly Venezuela’s neighbors, Brazil and Colombia, as well as multilateral bodies such as the [Organization of American States], to seek a negotiated transition to democratic rule in Venezuela.” Tillerson’s careful wording and call for regional cooperation may not be what some members of the Maduro opposition were hoping to hear from Trump’s nominee, especially given his battles with country during his time as the head of ExxonMobil. More…

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