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LatinNews Regional Monitor: Andean Group - 1 October 2019

In brief: Venezuela’s Maduro ready to resume negotiations over debt

* Venezuela’s de facto president, Nicolás Maduro, has announced that the government is ready to resume negotiations with foreign investors regarding defaulted debt. During a press conference at the foreign office in Caracas, Maduro said the initiative will be coordinated by Vice President Delcy Rodríguez and Economy Vice President Tareck El Aissami – both of whom have been sanctioned by the US. He called for a meeting with all bondholders in Venezuela to suggest new ways of paying its debt, suggesting, as one alternative, cryptocurrencies. He said the “main obstacle” was US President Donald Trump who has “prevented us from carrying out any transaction” and this is “our point to negotiate”.

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