Venezuela's external debt equals 180–200% of GDP

Venezuela’s external debt stands between $150 billion and $170 billion. The IMF estimates 2025 nominal GDP at about $82.8 billion. The resulting ratio is 180–200% of GDP.

It is one of the highest in the Western Hemisphere. The range reflects real differences between sources, not a margin of error.

Full debt service would cost between $8 billion and $10 billion a year. The study considers that incompatible with today’s cash generation. That is why it expects a restructuring with a significant haircut.

For a C-suite executive, the haircut is a given. The question is who absorbs it, and when.