Venezuelans weary of exit plan for country's crisis
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November 5, 2017
CARACAS, Venezuela (AP) — With his country spiraling into a desperate financial crisis, Venezuela's president has proposed restructuring its massive debt, leaving international investors wondering Friday whether they'll be paid and some residents expressing doubt the socialist leader can improve their lives.
President Nicolas Maduro announced Thursday that the state-run oil company will make good on a $1.1 billion payment, then begin "refinancing and a restructuring" its debts. The country owes global creditors an estimated $120 billion, about half in the form of dollar-denominated bonds.
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