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Venezuela bondholders inch toward showdown

Friday, March 24, 2017

Nations urge Venezuela on elections, warn of diplomatic 'last resort'

A group of 14 nations on Thursday urged Venezuela to hold elections and release "political prisoners," in a joint statement that kept open the option of seeking to suspend the South American country from the Organization of American States. The statement, which Mexico's Foreign Minister Luis Videgaray said was aimed at encouraging Venezuela to "re-establish democracy," called for dialogue and negotiation to resolve a crisis in the oil-exporting country, which is suffering severe food and fuel shortages. Suspending Venezuela from the OAS was a last resort, the nations said, and something that should be avoided unless other diplomatic efforts have been exhausted. "We reiterate that inclusive and effective dialogue is the right path to achieve lasting solutions to the challenges faced by the Venezuelan people," the statement said. More…

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