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Venezuela bondholders inch toward showdown

Friday, February 24, 2017

Venezuela Loses Right to Vote in the UN Until it Pays its Debts

Venezuela’s right to vote has been suspended at the General Assembly of the United Nations (UN) after racking up a debt of USD $24 million. This is the second time in three years that the large debts of the government of Nicolás Maduro have gone unpaid to the United Nations. The Caribbean country leads the list of debt defaulters, followed by Libya with USD $6.5 million, Somalia with USD $1.3 million, and Guinea-Bissau with USD $442,552.More…

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