According to the Financial Times, it will be the world’s largest debt restructuring.[a]
Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering:
Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and constant crisis. It's kind of incredible that the country has nothing to show for all the money it borrowed.
Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering:
Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and constant crisis. It's kind of incredible that the country has nothing to show for all the money it borrowed.
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[a] https://www.ft.com/content/b7f25ca2-827c-40f9-ab1a-57067d8ec... (paywalled)
[b] https://en.wikipedia.org/wiki/Crisis_in_Venezuela