The United States authorizes Venezuela to hire advisers to advance debt negotiations

```htmlGolden Ten Data reported on May 6 that the US government has authorized Venezuela to hire advisors for potential debt negotiations, marking a key step in the restructuring of the country's $60 billion defaulted bonds. The US Treasury has issued a license permitting legal and financial consulting, as well as advisory services, to be provided to the Venezuelan government and its entities (including the national oil company). Authorized services include "evaluating, developing, or preparing debt restructuring options, proposals, and related support materials." The new regulation paves the way for creditors to negotiate with the government led by interim President Rodríguez over debts that have been in default since 2017. However, the license does not authorize "restructuring, transfer, or settlement," nor does it authorize direct negotiations between creditors and the government. Driven by this news, Venezuelan bonds surged, with sovereign bonds maturing in 2027 rising by more than 1 cent to nearly 54 cents, the highest in nine years.```