Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)

Venezuela's interim government has revealed a $240 billion national debt—significantly higher than the previously estimated $150-200 billion—as it seeks to restructure and return to global markets after nearly a decade of isolation. The figure would represent the largest debt restructuring on record, surpassing even Greece's 2012 default, though concerns persist over the lack of IMF validation and Venezuela's severely diminished oil revenues. Most investors are skeptical that a deal will be finalized by the government's stated year-end target, with many expecting negotiations to extend into 2027.