Venezuela’s acting President Delcy Rodriguez delivered her first address to the United Nations General Assembly on Wednesday, reaffirming a commitment to hold elections while deferring specifics on timing. Rodriguez, who assumed leadership after the January capture of former President Nicolás Maduro by U.S. forces, stated in her speech that elections would proceed but emphasized that the ‘right moment’ would be determined by the Venezuelan people.
In a separate development, U.S. Secretary of State Marco Rubio confirmed a meeting between Rodriguez and President Donald Trump on Tuesday night to discuss restructuring Venezuela’s sovereign debt. Rubio described the country’s debt as ‘probably the world’s largest sovereign debt that has to be restructured,’ citing economic challenges stemming from years of default and corruption under previous regimes.
Elections and Political Dialogue
Rodriguez told the UN General Assembly that Venezuela would hold elections as part of a transition to ‘full democracy,’ though she did not provide a specific date. She asserted that the government had initiated political dialogue with opposition sectors to ensure a process ‘based on equal conditions for all.’ Rodriguez also claimed that national institutions were being prepared to guarantee an ‘inclusive and transparent’ electoral process.
Her address marked the first trip to the United States by a Venezuelan head of state since 2018, when Maduro attended the UN General Assembly. Rodriguez thanked the U.S. for its role in facilitating Venezuela’s reintegration into global diplomacy, noting that the last meeting between U.S. and Venezuelan presidents occurred in 2009.
Debt Restructuring and Economic Challenges
Rubio, speaking on Wednesday, highlighted Venezuela’s economic struggles, including what he described as the remnants of ‘kleptocracy and graft’ under previous leadership. He stressed that debt restructuring was critical to improving the country’s prospects but cautioned that it ‘has to be done in the right way.’
Venezuela’s Ministry of Economy and Finance announced in May that it would begin restructuring its external debt, which has been in default since 2017. The ministry cited ‘external shocks’ over the past decade, including a ‘sharp economic contraction’ and ‘prolonged default,’ as key factors in the decision. Despite these challenges, Venezuela remains home to the world’s largest known oil reserves.
Rodriguez also referenced recent setbacks, including two powerful earthquakes in June that struck north-central Venezuela, killing more than 6,500 people. She expressed gratitude to the U.S. for its willingness to resume relations following Maduro’s capture.
International Reintegration
Rodriguez’s participation in the UN General Assembly signals Venezuela’s efforts to re-establish diplomatic ties after years of isolation under Maduro’s government. Her speech underscored the administration’s focus on economic recovery and political normalization, though key details—such as election timing and debt restructuring terms—remain unresolved.