The U.S. Secretary of State, Marco Rubio, stated this Wednesday that Washington aims for the Venezuelan transition to not only culminate in free and fair elections but also in a stable democracy, with strong institutions and a functioning economy.
During the appearance, Rubio addressed Venezuela's political and economic future and explained that the country's recovery must progress alongside institutional rebuilding and the process toward free and fair elections.
Among the economic issues, the Secretary of State confirmed that President Donald Trump and the interim president of Venezuela, Delcy Rodríguez, discussed the restructuring of Venezuela's debt during their meeting in New York.
«What we want to see is not only free and fair elections, but also a lasting republic», Rubio explained to reporters, warning that a democratically elected government could face serious challenges if it inherits a deeply deteriorated economic and social situation.
The head of U.S. diplomacy stated that Washington aims to progress simultaneously on two fronts: economic recovery and the rebuilding of institutional conditions necessary to hold free and fair elections.
"We want to help them rebuild their economy, not perfectly, but to a level of stability that allows an elected government to succeed," he stated.
Rubio noted that a key part of that process will be the restructuring of Venezuelan debt, one of the issues discussed in the meeting between Trump and Rodríguez.
"There is much to address for Venezuela to succeed. We discussed the steps that still need to be taken to achieve this. The restructuring of the debt is key," he indicated.
The official assured that the United States wants to collaborate in that process, although he insisted that "it has to be done the right way."
Venezuela announced in May the beginning of the restructuring of its sovereign debt and that of the state-owned oil company Petróleos de Venezuela (PDVSA), after being in default since 2017.
Similarly, the sovereign bonds and those of PDVSA currently in default amount to approximately $60 billion, while analysts estimate Venezuela's total obligations to be between $150 billion and $200 billion, including accrued interest, other claims, and arbitration awards.
On the other hand, Rubio described the meeting between Trump and Rodríguez in New York as "brief, but significant" and asserted that economic recovery must progress alongside political transition.
"There must be a process of political transition, which is already underway," stated the Secretary of State.
According to Rubio, leaders associated with the National Assembly elected in 2015 are maintaining regular conversations with interim authorities to create the necessary conditions for rebuilding Venezuelan institutions.
Among the elements that Washington considers essential, Rubio mentioned the need for media and news coverage, candidates who can connect with the population, organized political parties, and electoral authorities that inspire confidence in the counting and publication of votes.
Rubio also highlighted what he described as recent advances in that area and stated that several independent Venezuelan media outlets, which had been unable to broadcast within the country for almost seven years, have resumed doing so in recent weeks.
The secretary also stated that numerous political leaders remain outside the country and need conditions to rebuild and organize their parties, as well as the opportunity to transition from protest movements to political movements. "It's not just about María Corina, who is a very brave woman. There are other people who are outside," he remarked.
Rubio had already suggested at the beginning of September that certain institutional guarantees need to be reconstructed prior to elections, as part of the transition process that Washington claims to be promoting in Venezuela.
"In the end, for this project to succeed, it must culminate in free and fair elections," Rubio stated.
For the Secretary of State, economic stability is also essential to prevent any potential new government from inheriting a country in an economic and social situation that could jeopardize not only the elections but also the survival of democracy in Venezuela.
"What would threaten a lasting republic in Venezuela is for someone to be elected and inherit a complete economic and social catastrophe," he stated.
Political and economic contacts between Washington and the interim Venezuelan authorities have intensified over the past few months.
Rubio summarized Washington's goal as "a stable democracy with a functional economy" that allows Venezuelans to thrive and offers the millions who left the country the opportunity to return, invest, and participate in it once again.
At the end of August, the United States and Venezuela announced a comprehensive agreement related to the development of Venezuelan oil reserves, which is another component of the economic recovery strategy promoted by the Trump Administration.
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