Venezuela is looking to restructure all its foreign debt, President Nicolas Maduro said Thursday -- the day state oil company PDVSA had to pay $1.2 billion in maturing bonds to avoid a default.

"I decree a refinancing and a restructuring of all external debt and all of Venezuela's payments," Maduro said.

He said PDVSA would make its big bond payout on Friday.

Venezuela's total external debt is estimated at $150 billion.