Struggling Venezuela looks to restructure debt

Crisis-hit Venezuela, seen by many investors on the threshold of default, will try to restructure its debt after its oil company makes a scheduled $1.2 billion payment, according to President Nicolas Maduro on Thursday."After this payment, I decree a refinancing and a restructuring of all external debt and all of Venezuela's payments," Maduro said in a statement broadcast on state television.US sanctions imposed on Venezuela in August, however, threaten to complicate Maduro's ambition.