The Office of Foreign Assets Control (OFAC) issued License No. 58 on Tuesday, May 5, authorizing “all transactions… necessary for the provision of legal, financial, and consulting services… in connection with potential debt restructuring processes,” which includes the state-owned oil company PDVSA.

There are also clearly stated restrictions in the license, as it does not currently authorize formal processes of “restructuring, renegotiation, transfer, or direct agreements with creditors.”

This makes it clear that this is a first step toward restructuring Venezuela’s debt.

 

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Una publicación compartida por VPItv (@vpitv)

M.Pino

Source: elnacional

(Reference image source: Jakub Żerdzicki on Unsplash)

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La entrada United States issues license for Venezuelan debt restructuring apareció primero en Bitfinance.