Venezuela's $240 billion debt pile raises stakes for looming sovereign restructuring

Venezuela is preparing to disclose a sovereign debt stock that may reach $240 billion, far above earlier estimates of $150‑200 billion. The country plans to restructure external commercial Eurobonds issued by the government and state‑oil firm PDVSA, which have a face value of about $60 billion and, with accrued interest, total roughly $102 billion. Other bonds include a $650 million electricity‑sector issue by Electricidad de Caracas.

Bilateral loans amount to roughly $25 billion, with $8.69 billion owed to Paris Club members, plus significant borrowings from Russia and China—estimated at $13‑15 billion. Multilateral development banks are owed about $4 billion, while arbitration awards and court judgments against Venezuela and PDVSA exceed $20 billion. The diverse creditor mix, legal claims, and the need for U.S. approval of a court‑ordered Citgo sale complicate any restructuring deal.