Venezuela Stays Mum on Plan for Debt Default
Nobody wants to lose by default. But after a meeting on Monday over a $60 billion bond default that could be announced as soon as today, investors say it’s still not clear how Nicolas Maduro’s socialist government plans to deal with the crisis. The administration has already missed a $47 million interest payment and is late with a $1.1 billion bond payment. That could lead to escalating EU sanctions, which Maduro says are “stupid,” or creditors seizing oil from the bankrupt nation — though it could also force political compromise.