Venezuela Renegotiates its Foreign Debt
2017-11-15 09:17:53 / web@radiorebelde.icrt.cu / Translated by: JC Caballero
With the presence of creditors, the meeting for the renegotiation and restructuration of Venezuela’s foreign debt at the Blanco Palace center in Caracas city was carried out and the 414 creditors who are representing the 91% of the bonuses holders were part of the meeting with the presidential commission, led by the vice president of Venezuela, Tareck El Aissami.
According to Telesur network channel, the meeting has contributed to the joint negotiation with the bonuses holders of Petroleos de Venezuela enterprise (PDVSA) of effective mechanisms to guarantee the fulfillment of the commitments within the framework of the renegotiation process of its foreign debt.
“Venezuela has begun a serious, clear and open strategy to look for new negotiable paths and new related formulas because Venezuela has international, economic rights and it will use them. “ The Venezuelan head of state, pointed out on his program entitled ‘Los Domingos con Maduro.’
Nicolás Maduro ratified that the goal is precisely to give priority to the human rights of the peoples even without stop paying, as it is usually repeated through the UN resolutions.
In the last years, Venezuela has cancelled more than $72.000 million dollars of its foreign debt and they try to asphyxiate Venezuela and they won’t achieve it as his nation expects to obtain favorable and fair conditions for the refinancing process.”Nicolás Maduro pointed out.
While the Payment Continues
The Venezuelan foreign debt is estimated in nearly $ 150.0000 million dollars and that nation stopped receiving some $ 100.000 million dollars as a consequence of the fall of the price from the oil incomes.
The Venezuelan head of stated attributed that situation to the sanctions carried out by the former president, Barack Obama, and the financial persecution of the current U.S. President, Donald Trump and the Venezuelan political opponent, Julio Borges who were requesting economic sanctions against Venezuela.
Nicola’s Maduro said that there are U.S. and European investors among the bonuses holders of the Venezuelan Republic’s foreign debt and the deeds of the state-run oil PDVSA enterprise, so the government has changed its strategy about paying the debt at any cost through that refinancing process. We are not going to follow that strategy about paying at any cost, taking into account that our priority is the diet, health and the development of Venezuela. All of that coincided with the most abrupt and long low price from the oil income.”
By Ana Teresa Badía
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