deudacomogarantia

In a country where bank credit is almost a luxury item, Venezuela’s Oil Chamber (CPV) is putting forward an idea that sounds like high-voltage financial engineering: taking the debt that Pdvsa holds with hundreds of service companies in the sector and turning it into collateral so those companies can obtain fresh financing and get back to running drilling rigs, compressors, and equipment.
The proposal was put forward by the head of the guild, Álvaro Pérez Díaz, in a radio interview, and it immediately sparked debate: is it a creative solution to the lack of capital or is it a bet on a promissory note that no one has managed to collect in years?