🇻🇪 Venezuela is about to admit it owes $240 billion, far more than anyone expected, in what would be the largest debt restructuring the world has ever seen.
Markets had penciled in $150 to $200 billion, so the real number lands well above even the high end.
The economy has cratered to around $100 billion, down from $370 billion in the final year of the Chavez era, putting debt at more than double the size of the whole economy.
Interim leader Delcy Rodriguez wants a deal with creditors by year-end to get Venezuela back into global markets after nearly a decade frozen out.
One wrinkle worth watching is that the usual referee, the IMF, didn't write the analysis this time, and even some of the opposition worry that leaves Caracas weaker at the table.
Source: FT / Writer: Julie
@CarlGoette@shanselman I've found that since they introduced the "efficiency mode", that cannot be disabled, the performance issues became worse, specially with electron/web view based apps like WhatsApp.