The country's elected opposition-led National Assembly in 2019 issued an order naming supervisory boards to look over Venezuela's foreign assets after the U.S. imposed sanctions intended to oust President Nicolas Maduro.
The congress is the only one recognized abroad and has received U.S. authority to negotiate any external debt payments.
If the proposal is passed, the National Assembly would allow negotiations to extend the bonds' validity for five more years, according to a source involved in the talks.
Venezuela's external debt, including PDVSA's, exceeds $60 billion.
Reporting by Mayela Armas in Caracas and Marianna Parraga in Houston Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.
Persons:
Nicolas Maduro, Horacio Medina, Mayela Armas, Marianna Parraga, Marguerita Choy
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