Venezuela’s Hardest Rebuild May Be Its Debt, Not Its Oil

Key Points UBS estimates hard-currency external debt above $100 billion; broader tallies reach about $150–$170 billion once PDVSA and legal claims are included. Sanctions, weak data, and creditor lawsuits could stretch any restructuring for years. Oil output is unlikely to surge soon; extra-heavy crude and capital needs point to a slow recovery. Nicolás Maduro’s capture […]