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MULTIMEDIA • NEWS • NATIONAL NEWS • MAIN
COMMUNIQUE OF THE BOLIVARIAN REPUBLIC OF VENEZUELA ON THE PUBLIC DEBT
3 November, 2017
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Statement by the Bolivarian Republic of Venezuela on the creation of the Presidential Commission to renegotiate the terms of the external debt of the Republic and PDVSA.
Caracas, November 3, 2017

The government of the Bolivarian Republic of Venezuela advances in the process of productive and financial consolidation of the country, and in this sense ratifies the international community and its people, their absolute and responsible willingness to continue fulfilling, as always, with the commitments assumed for the nation and our state oil company PDVSA.

In this way, the Bolivarian government of Venezuela and its company PDVSA, initiated yesterday the bank transfers corresponding to the payment of capital and interest of the 2017 PDVSA Bonus of 8.5% coupon, for a total amount of USD 1,169.07 million. of dollars, to the accounts of the American bank JP Morgan, giving full guarantee of compliance to all the holders.

Likewise, we want to denounce before the international community, the continuous aggression, the permanent sabotage, the blockade and the financial persecution to which our people have been subjected by the government of Donald Trump and his insolent imperial policy of economic domination and suffocation, which they seek to bend the will of an entire people, determined to be free and that advances in the construction of a stable, diversified, harmonious and integral economic system.

In the last 4 years our government has honored its payment commitments for the external debt service for a total amount of 71,700 million dollars, this is the strongest proof of our willingness to comply. Those who really hurt themselves with the purported sanctions imposed by the Trump government are the holders of international financial institutions. Nevertheless, Venezuela has responded and responds fully to its obligations; despite the illegal measures and sanctions of the US regime, which have constructed a perverse scheme of aggression that they try unsuccessfully to isolate the Bolivarian government.

Consequently, guided by the principles of responsibility, dialogue, transparency and commitment, which constitutes the referential framework that has guided the ethics and politics with which the Revolution has always acted; that is why, the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, announces to the entire international community, the creation of the PRESIDENTIAL COMMISSION TO RENEGOTIATE THE TERMS OF THE EXTERNAL DEBT OF THE REPUBLIC AND OF PDVSA, which will be chaired by the Executive Vice President of the Republic, Tareck El Aissami; and will be integrated by the Vice President of Economy, Wilmar Castro Soteldo, the Vice President of Planning, Ricardo Menéndez; the Minister of the Popular Power of Economy and Finances, Simón Zerpa, the Minister of Popular Power of Oil, Eulogio Del Pino; the Attorney General of the Republic, Reinaldo Muñoz; and the President of Petróleos de Venezuela, Nelson Martínez.

This commission will lay the foundations to guarantee a true and transparent dialogue between the Bolivarian government and the national and international holders; in order to find formulas that allow, structurally and jointly, to overcome the illegal imperialist sanctions that threaten the internal and international financial development of the country and the human rights of the Venezuelan people.

Venezuela takes this decision in accordance with the Resolution adopted by the General Assembly of the United Nations on the basic principles of sovereign debt restructuring, thus legitimizing the right of countries to restructure their liabilities, so that they can grow back without interrupting the payment of their obligations and ensure that, in good faith, investors are not affected by the scavenging of the international financial system. This renegotiation will be made to the debt commitments acquired under the bond issue by PDVSA and by the republic.

Finally, this presidential commission, on behalf of the Constitutional President Nicolás Maduro and the people of Venezuela, calls on all holders of the Venezuelan debt for a meeting on Monday, November 13 in the city of Caracas to begin the joint construction of effective mechanisms that guarantee the fulfillment of the commitments within the framework of a sovereign process of renegotiation of our external debt.

In order that the investors can maintain direct contact with the secretary of the presidential commission, as well as send their request to participate in the meeting and receive details about it, the following email address is established:

renegociacionsoberana@mppef.gob.ve