Venezuela's Maduro seeks debt negotiations after U.S. sanctionsCARACAS (Reuters) - Venezuelan President Nicolas Maduro has invited bondholders to unspecified  negotiations  over the country s foreign debt in coming days, in response to recent U.S. financial sanctions.  With Venezuela deep in recession and its currency reserves at their lowest in more than two decades, the Maduro government and state oil company PDVSA have to pay about $4 billion in debt and interest during the rest of 2017.      All bondholders are invited to various rounds of negotiations over the next few weeks,  the president said in a speech late on Thursday to the new Constituent Assembly. He reiterated Venezuela would keep honoring debt, but said he wanted to talk with bondholders affected by sanctions recently imposed by U.S. President Donald Trump.  Maduro said Vice President Tareck El Aissami, already under U.S. financial sanctions over drug trafficking allegations, and Finance Minister Ramon Lobo would coordinate talks and some  bilateral conversations  with bondholders had already begun. In the same speech, Maduro said Venezuela would seek to  free  itself of the U.S. dollar and  implement a new system of international payments  using currencies such as the yuan, yen, rupee, euro and ruble. The president did not, however, specify whether paying in a different currency was an option his government wanted to discuss with bondholders. The Washington-based Institute of International Finance, which represents large banks and financial institutions, said it was advising a group of holders of Venezuelan bonds.  This informal group will take note of the Venezuelan announcements and discuss how to proceed,  IIF Executive Managing Director Hung Tran told Reuters. The group was made up of bondholders from the United States and elsewhere, he said. Tran said Venezuela could not change the currency of bonds without agreement by all or a large majority of holders. Last month, Trump, who brands Maduro a  dictator,  signed an executive order that prohibits Americans from dealing in new debt issued by the Venezuelan government or PDVSA. That could complicate any debt refinancing attempts. Washington has also sanctioned PDVSA s finance boss Simon Zerpa, meaning U.S. businesses are barred from dealing with him, and even Maduro himself in measures intended to punish the Venezuelan government for alleged corruption and rights abuses.   I will be announcing Venezuela s definitive response to the financial aggression we - and the international investors - have suffered from Donald Trump and (opposition leader) Julio Borges,  Maduro added in the speech on Thursday. Borges, the head of the opposition-led congress whose role has been overridden by the Constituent Assembly, has been spearheading an opposition campaign for foreign financial institutions to put the squeeze on Venezuela s government.  Venezuela will take a position to defend the judicial and financial security of the republic and its investors or holders of financial instruments,  Maduro added. Though Maduro gave no further details of what his government wanted to discuss with bondholders or where talks would be held, he did say 74 percent were American or Canadian.  Three bondholders consulted by Reuters said they had not received any formal approach to dialogue, though two said intermediaries for the government had been communicating with some investors informally.  We didn t receive an invitation or anything like that. Even if we had we don t think we would take it too seriously,  said one portfolio manager at a large New York firm that owns Venezuelan debt, asking not to be named.  In trading on Friday, Venezuelan government and PDVSA bonds were little changed in price. The OPEC nation of 30 million people is in the fourth year of a recession, with its population grappling with triple-digit inflation and shortages of food and medicine.  Critics say a long-failing socialist economic system is to blame for Venezuela s financial troubles, while the government blames an alleged  economic war  by domestic foes and Washington.  International reserves stood at $9.873 billion on Wednesday, compared with nearly $30 billion five years ago, central bank data shows. They are at their lowest level since 1995. Most of the country s reserves are tied up in gold that cannot be used in financial transactions without going through a certification process in another country.  In another speech on Friday, Maduro said that Venezuela would begin selling its oil, gas, gold and  all products  in currencies other than the U.S. dollar, but gave no further details of the intended changes in export transactions.     worldnews
venezuela maduro seeks debt negotiations sanctionscaracas reuters venezuela president nicolas maduro invited bondholders unspecified negotiations country foreign debt coming days response recent financial sanctions with venezuela deep recession currency reserves lowest two decades maduro government state oil company pdfs pay billion debt interest rest all bondholders invited various rounds negotiations next weeks president said speech late thursday new constituent assembly he reiterated venezuela would keep honoring debt said wanted talk bondholders affected sanctions recently imposed president donald trump maduro said vice president track el assam already financial sanctions drug trafficking allegations finance minister ramon logo would coordinate talks bilateral conversations bondholders already begun in speech maduro said venezuela would seek free dollar implement new system international payments using currencies yuan yen rupee euro ruble the president however specify whether paying different currency option government wanted discuss bondholders the institute international finance represents large banks financial institutions said advising group holders venezuela bonds this informal group take note venezuela announcements discuss proceed if executive managing director hung tran told reuters the group made bondholders united states elsewhere said tran said venezuela could change currency bonds without agreement large majority holders last month trump brands maduro dictator signed executive order prohibits americans dealing new debt issued venezuela government pdfs that could complicate debt financing attempts washington also sanctioned pdfs finance boss simon era meaning businesses barred dealing even maduro measures intended punish venezuela government alleged corruption rights abuses i announcing venezuela definitive response financial aggression international investors suffered donald trump opposition leader julio barges maduro added speech thursday barges head congress whose role overridden constituent assembly spearheading opposition campaign foreign financial institutions put squeeze venezuela government venezuela take position defend judicial financial security republic investors holders financial instruments maduro added though maduro gave details government wanted discuss bondholders talks would held say percent american canadian three bondholders consulted reuters said received formal approach dialogue though two said intermediaries government communicating investors informally we receive invitation anything like even think would take seriously said one portfolio manager large new york firm owns venezuela debt asking named in trading friday venezuela government pdfs bonds little changed price the open nation million people fourth year recession population grappling inflation shortages food medicine critics say socialist economic system blame venezuela financial troubles government blames alleged economic war domestic foes washington international reserves stood billion wednesday compared nearly billion five years ago central bank data shows they lowest level since most country reserves tied gold used financial transactions without going certification process another country in another speech friday maduro said venezuela would begin selling oil gas gold products currencies dollar gave details intended changes export transactions worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Venezuela's Maduro seeks debt negotiations after U.S. sanctionsCARACAS (Reuters) - Venezuelan President Nicolas Maduro has invited bondholders to unspecified  negotiations  over the country s foreign debt in coming days, in response to recent U.S. financial sanctions.  With Venezuela deep in recession and its currency reserves at their lowest in more than two decades, the Maduro government and state oil company PDVSA have to pay about $4 billion in debt and interest during the rest of 2017.      All bondholders are invited to various rounds of negotiations over the next few weeks,  the president said in a speech late on Thursday to the new Constituent Assembly. He reiterated Venezuela would keep honoring debt, but said he wanted to talk with bondholders affected by sanctions recently imposed by U.S. President Donald Trump.  Maduro said Vice President Tareck El Aissami, already under U.S. financial sanctions over drug trafficking allegations, and Finance Minister Ramon Lobo would coordinate talks and some  bilateral conversations  with bondholders had already begun. In the same speech, Maduro said Venezuela would seek to  free  itself of the U.S. dollar and  implement a new system of international payments  using currencies such as the yuan, yen, rupee, euro and ruble. The president did not, however, specify whether paying in a different currency was an option his government wanted to discuss with bondholders. The Washington-based Institute of International Finance, which represents large banks and financial institutions, said it was advising a group of holders of Venezuelan bonds.  This informal group will take note of the Venezuelan announcements and discuss how to proceed,  IIF Executive Managing Director Hung Tran told Reuters. The group was made up of bondholders from the United States and elsewhere, he said. Tran said Venezuela could not change the currency of bonds without agreement by all or a large majority of holders. Last month, Trump, who brands Maduro a  dictator,  signed an executive order that prohibits Americans from dealing in new debt issued by the Venezuelan government or PDVSA. That could complicate any debt refinancing attempts. Washington has also sanctioned PDVSA s finance boss Simon Zerpa, meaning U.S. businesses are barred from dealing with him, and even Maduro himself in measures intended to punish the Venezuelan government for alleged corruption and rights abuses.   I will be announcing Venezuela s definitive response to the financial aggression we - and the international investors - have suffered from Donald Trump and (opposition leader) Julio Borges,  Maduro added in the speech on Thursday. Borges, the head of the opposition-led congress whose role has been overridden by the Constituent Assembly, has been spearheading an opposition campaign for foreign financial institutions to put the squeeze on Venezuela s government.  Venezuela will take a position to defend the judicial and financial security of the republic and its investors or holders of financial instruments,  Maduro added. Though Maduro gave no further details of what his government wanted to discuss with bondholders or where talks would be held, he did say 74 percent were American or Canadian.  Three bondholders consulted by Reuters said they had not received any formal approach to dialogue, though two said intermediaries for the government had been communicating with some investors informally.  We didn t receive an invitation or anything like that. Even if we had we don t think we would take it too seriously,  said one portfolio manager at a large New York firm that owns Venezuelan debt, asking not to be named.  In trading on Friday, Venezuelan government and PDVSA bonds were little changed in price. The OPEC nation of 30 million people is in the fourth year of a recession, with its population grappling with triple-digit inflation and shortages of food and medicine.  Critics say a long-failing socialist economic system is to blame for Venezuela s financial troubles, while the government blames an alleged  economic war  by domestic foes and Washington.  International reserves stood at $9.873 billion on Wednesday, compared with nearly $30 billion five years ago, central bank data shows. They are at their lowest level since 1995. Most of the country s reserves are tied up in gold that cannot be used in financial transactions without going through a certification process in another country.  In another speech on Friday, Maduro said that Venezuela would begin selling its oil, gas, gold and  all products  in currencies other than the U.S. dollar, but gave no further details of the intended changes in export transactions.     worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: venezuela maduro seeks debt negotiations sanctionscaracas reuters venezuela president nicolas maduro invited bondholders unspecified negotiations country foreign debt coming days response recent financial sanctions with venezuela deep recession currency reserves lowest two decades maduro government state oil company pdfs pay billion debt interest rest all bondholders invited various rounds negotiations next weeks president said speech late thursday new constituent assembly he reiterated venezuela would keep honoring debt said wanted talk bondholders affected sanctions recently imposed president donald trump maduro said vice president track el assam already financial sanctions drug trafficking allegations finance minister ramon logo would coordinate talks bilateral conversations bondholders already begun in speech maduro said venezuela would seek free dollar implement new system international payments using currencies yuan yen rupee euro ruble the president however specify whether paying different currency option government wanted discuss bondholders the institute international finance represents large banks financial institutions said advising group holders venezuela bonds this informal group take note venezuela announcements discuss proceed if executive managing director hung tran told reuters the group made bondholders united states elsewhere said tran said venezuela could change currency bonds without agreement large majority holders last month trump brands maduro dictator signed executive order prohibits americans dealing new debt issued venezuela government pdfs that could complicate debt financing attempts washington also sanctioned pdfs finance boss simon era meaning businesses barred dealing even maduro measures intended punish venezuela government alleged corruption rights abuses i announcing venezuela definitive response financial aggression international investors suffered donald trump opposition leader julio barges maduro added speech thursday barges head congress whose role overridden constituent assembly spearheading opposition campaign foreign financial institutions put squeeze venezuela government venezuela take position defend judicial financial security republic investors holders financial instruments maduro added though maduro gave details government wanted discuss bondholders talks would held say percent american canadian three bondholders consulted reuters said received formal approach dialogue though two said intermediaries government communicating investors informally we receive invitation anything like even think would take seriously said one portfolio manager large new york firm owns venezuela debt asking named in trading friday venezuela government pdfs bonds little changed price the open nation million people fourth year recession population grappling inflation shortages food medicine critics say socialist economic system blame venezuela financial troubles government blames alleged economic war domestic foes washington international reserves stood billion wednesday compared nearly billion five years ago central bank data shows they lowest level since most country reserves tied gold used financial transactions without going certification process another country in another speech friday maduro said venezuela would begin selling oil gas gold products currencies dollar gave details intended changes export transactions worldnews