Venezuela Prepares $240 Billion Debt Restructuring as Sanctions Lift After Maduro's January Ouster
Updated
Updated · Semafor · Jun 24
Venezuela Prepares $240 Billion Debt Restructuring as Sanctions Lift After Maduro's January Ouster
3 articles · Updated · Semafor · Jun 24
Summary
$240 billion in debt is set to be disclosed by Caracas in coming weeks, far above earlier estimates of $150 billion to $200 billion, with creditors expected to be offered only partial repayment.
Maduro's January removal and the lifting of U.S. sanctions on Venezuelan dollar transactions opened the way for a deal that had been impossible under the previous regime.
The workout would surpass Greece's roughly $200 billion 2012 default as the largest sovereign restructuring on record, but it is more complex because Venezuela has a wide creditor base and no IMF role.
Venezuela enters the process after an economic collapse that shrank GDP from $370 billion in 2012 to about $100 billion today, underscoring how deep the eventual recovery challenge will be.
Can Venezuela's debt deal succeed when its oil money is controlled by the U.S. but owed to China?
Will U.S. licenses to revive Venezuelan oil rebuild the nation or just carve it up for foreign powers?
Is Venezuela's oil comeback a historic opportunity for investors or a geopolitical trap set by rival superpowers?
Venezuela’s $150 Billion Debt Crisis: Anatomy, Challenges, and the 2026 Historic Restructuring
Overview
In May 2026, Venezuela launched a historic financial restructuring, marking a turning point after years of economic crisis and isolation. This breakthrough was made possible by the White House recognizing Delcy Rodríguez as the country's sole leader and the Trump administration lifting sanctions, which removed key barriers to international engagement. As a result, Venezuela reestablished ties with the World Bank and IMF, aiming to access $5 billion in Special Drawing Rights to boost liquidity. The IMF also signaled willingness to support a loan program, setting the stage for Venezuela’s reintegration into the global economy and a path toward recovery.