Government gross debt in Venezuela

Measures the total gross debt owed by Venezuela's general government to its domestic and external creditors. It is usually reported in absolute terms and, above all, as a share of GDP to gauge sustainability.

It adds up the liabilities of the whole general government (debt securities, loans and deposits), consolidated across subsectors. For Venezuela the benchmark comes mainly from IMF and other international estimates, given the scarcity of official releases, with the debt-to-GDP ratio setting that stock against the size of the economy.

A high or rising debt level weighs on the sustainability of Venezuela's public finances and on the country's market access. Against a backdrop of default and sanctions, it is a central reference for external creditors, holders of bonds under restructuring and multilateral bodies.

This is a low-frequency and highly uncertain figure: official information is limited and the numbers rest on estimates. The debt-to-GDP ratio is especially fragile because hyperinflation and the sharp fall in nominal GDP distort the denominator, so it should be read with caution.