Venezuela faces challenges to its national sovereignty.

On May 13, the Venezuelan government launched a comprehensive restructuring of public debt and the financial obligations of the state-owned oil company PDVSA in an effort to alleviate the massive debt burden of this oil-rich South American nation.

Venezuelan Acting President Rodríguez speaks to the press on May 12. Photo: AFP

Venezuela is one of the countries with the largest public debt in the world , with total defaulted government and PDVSA bonds amounting to approximately $60 billion. The country has been bankrupt and unable to pay its foreign debts since 2017.

Analysts estimate that total debt, including penalties and accumulated interest, could exceed $150 billion, while Venezuela's GDP in 2025 will be less than $100 billion and the government budget in 2026 will be only about $20 billion.

The administration of interim President Delcy Rodríguez is confident it can negotiate a restructuring of the country's massive public debt amid a strong rebound in oil exports thanks to the US, India, and European markets. Venezuela's oil exports in April increased by 14% compared to March, reaching 1.23 million barrels per day, the highest level since 2018.

Caracas has also re-established relations with the International Monetary Fund (IMF) and the World Bank (WB), giving it access to the IMF's Special Drawing Rights (SDRs) worth approximately $5 billion to address urgent infrastructure and public service needs. Ms. Rodríguez stated that Venezuela does not need and has no plans to borrow from the IMF.

To restructure its public debt, Venezuela needs to present a clear macroeconomic plan and an analysis of the funding sources to ensure repayment. The U.S. Treasury Department has allowed American businesses to participate in this process as a measure to support Venezuela.

However, President Donald Trump has just indicated that the White House wants to make Venezuela the 51st state of the United States. In an interview with Fox News on May 11, the American leader said he was "seriously considering" the plan because Venezuela has estimated oil reserves worth up to $40 trillion and its people "love" him. Just one day later, Trump continued by posting an image of a map of Venezuela with the American flag and the words "51st state" on the social media platform Truth Social.

In response to Trump's statement, Rodríguez emphasized that Venezuela will continue to defend its territorial integrity, sovereignty, and independence.

DUC TRUNG

Source: https://baocantho.com.vn/venezuela-truc-thach-thuc-chu-quyen-quoc-gia-a204597.html