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Title : Russia Provides Debt Relief To Venezuela
link : Russia Provides Debt Relief To Venezuela
Russia Provides Debt Relief To Venezuela
DW: Russia extends lifeline as Venezuela struggles with 'selective default'
Credit ratings agencies have declared Venezuela and its state-run oil company in "selective default." But Russia has offered to restructure the South American country's debt to ensure Caracas pays its other creditors.
Venezuela on Wednesday signed a pact to restructure its debt with major creditor Russia as the cash-strapped nation teeters on the edge of default.
Russia's finance ministry said that the deal is aimed at increasing the chances that Caracas' creditors receive what is owed to them.
A delegation led Venezuelan Finance Minister Simon Zerpa signed the deal, effectively restructuring $3.15 billion (2.67 billion euros) of debt Caracas took out in 2011 to purchase Russian weapons.
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WNU Editor: All that Russia did was delay payments of money that Venezuela borrowed to buy weapons from Moscow. Nothing more .... nothing less. And as for the Chinese .... they are not committing to any delays for Venezuela to pay off its debts to them (for now). Bottom line .... it appears that both China and Russia are no longer giving any more loans to Venezuela, they are just delaying the terms on the money that they loaned in the past.
More News On Russia Providing Debt Relief To Venezuela
Russia and Venezuela agree debt deal -- BBC
Russia restructures Venezuela's $3bn debt -- RT
China Makes No Offer of Debt Relief for Venezuela -- U.S. News & World Report/AP
China confident Venezuela can handle debt issue -- Reuters
Venezuela says debt refinancing under way, S&P calls selective default -- Euronews
China and Russia hold the key to saving Venezuela from default -- Nikkei Asian Review
Venezuela's economy is on the brink of default. Here's what that actually means. -- Washington Post
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DW: Russia extends lifeline as Venezuela struggles with 'selective default'
Credit ratings agencies have declared Venezuela and its state-run oil company in "selective default." But Russia has offered to restructure the South American country's debt to ensure Caracas pays its other creditors.
Venezuela on Wednesday signed a pact to restructure its debt with major creditor Russia as the cash-strapped nation teeters on the edge of default.
Russia's finance ministry said that the deal is aimed at increasing the chances that Caracas' creditors receive what is owed to them.
A delegation led Venezuelan Finance Minister Simon Zerpa signed the deal, effectively restructuring $3.15 billion (2.67 billion euros) of debt Caracas took out in 2011 to purchase Russian weapons.
Read more ....
WNU Editor: All that Russia did was delay payments of money that Venezuela borrowed to buy weapons from Moscow. Nothing more .... nothing less. And as for the Chinese .... they are not committing to any delays for Venezuela to pay off its debts to them (for now). Bottom line .... it appears that both China and Russia are no longer giving any more loans to Venezuela, they are just delaying the terms on the money that they loaned in the past.
More News On Russia Providing Debt Relief To Venezuela
Russia and Venezuela agree debt deal -- BBC
Russia restructures Venezuela's $3bn debt -- RT
China Makes No Offer of Debt Relief for Venezuela -- U.S. News & World Report/AP
China confident Venezuela can handle debt issue -- Reuters
Venezuela says debt refinancing under way, S&P calls selective default -- Euronews
China and Russia hold the key to saving Venezuela from default -- Nikkei Asian Review
Venezuela's economy is on the brink of default. Here's what that actually means. -- Washington Post
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