Calixto Ortega: Sanctions prevented continued payment of debts

Published at: 14/05/2026 10:13 PM

The Sectorial Vice President of Economy and Finance, Calixto Ortega, said that Venezuela stopped complying with its payments after the imposition of “one of the most destructive sanctions imposed on the Venezuelan economy” in August 2017.

The governor of Venezuela, also before the International Monetary Fund (IMF), stated that the restructuring process “is a sovereign decision of Venezuela.” He also indicated during the program A Pulso, broadcast by Venezolana de Televisión (VTV), that the national government made these decisions with the certainty that it is possible to move forward thanks to the new economic context in which the nation finds itself.

Debt restructuring, in the words of the specialist, means that the country will be able to raise funds, financing and resources to boost public services; in the same way, it will benefit the private sector, because it will have access to lines of credit that will have a positive impact on the growth of the national economy.

Ortega said that the restructuring process began months ago with the preparation of the technical teams, who carried out the corresponding studies.

He explained that the strategy is based on four principles: transparency, comprehensiveness, sustainability and speed. The objective is for the process to be honest, versatile, sustainable over time and executed in the shortest possible time without sacrificing social investment.

He said: “This is possible today because the Venezuelan economy is being managed responsibly and that responsibility has been taking place for quite some time.” Finally, he recalled that Venezuela is going through a process of frank economic recovery.

Mazo News Team