Trump Confirms Talks With Venezuelan Leader on Elections, Sovereign Debt

U.S. President Donald Trump on Saturday confirmed he spoke with Venezuelan interim President Delcy Rodriguez about the prospect of elections, a high-level discussion that also reportedly touched on the nation's billions in defaulted sovereign debt.

White House Confirms Discussion

Speaking to reporters at the White House, Trump acknowledged the conversation took place this week. "I did," the president said, according to a Reuters report. "I spoke about elections."

The confirmation follows a brief meeting between the two leaders on the sidelines of the United Nations General Assembly on Tuesday. Following that encounter, Rodriguez praised Trump for restarting dialogue with the Venezuelan government.

Debt and Political Agenda

The talks extended beyond the political sphere into critical financial matters for the distressed South American economy. U.S. Secretary of State Marco Rubio said this week that the discussion included the complex issue of restructuring Venezuela’s billions of dollars in sovereign debt.

Ad

According to Rubio, Washington also used the meeting to press for political change. Any progress on a debt workout would be a highly significant development for international bondholders holding the nation's defaulted securities and could have ripple effects on oil markets given Venezuela's vast reserves.

Context of the Dialogue

The diplomatic engagement comes after a dramatic shift in Venezuela's leadership. Rodriguez assumed the interim presidency after U.S. forces captured then-President Nicolas Maduro in a raid last January, according to the report.

In her own speech to the UN General Assembly, Rodriguez stated that elections would be held in her country, though a specific timeline was not provided. The direct talks mark a notable development in U.S.-Venezuela relations.