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"This decision will safeguard the investors' rights without affecting the country's economic recovery," the Bolivarian authorities stated.
To address the economic crisis imposed by the U.S. sanctions, Venezuela's authorities Monday extended for one month the offer made to the bondholders of Petroleos de Venezuela S.A. (PDVSA) and the National Electric Corporation S.A. (Corpoelec).
"This decision will safeguard the investors' rights without affecting the country's economic recovery," Venezuela's Economy Ministry stated.
In 2017, Venezuela called on bondholders for a dialogue to restructure the debt. However, constant U.S. enforcement measures against the country were and continue to impede achieving this goal.
Therefore, in September, the Ministry presented an offer to investors and creditors given the country's difficulties in achieving the restructuring and payment of the debt.
"For such purposes, they have delegated to Guaido and his accomplices, the establishment of a fraudulent representation of the Republic and #PDVSA, which is illegal and acts to the detriment of the national interest," Venezuela's government denounced. https://t.co/FwIIL3quYG