Renegotiation of Venezuela's foreign debt begins on Monday PDF Print E-mail
Written by AVN   
Monday, 13 November 2017 16:37


On Monday, November 13, the renegotiation of terms of the foreign debt of the Bolivarian Republic of Venezuela and PDVSA with their creditors begins. The meeting will take place at the White Palace in Caracas, President Nicolás Maduro informed Sunday.

"Tomorrow begins the process of renegotiation and refinancing of the external debt and of all the international commitments of the Republic", said the President during his program Sundays with Maduro, broadcast by VTV.

The president explained that since 2014 Venezuela has been facing the ravages of the economic war, as well as the sanctions imposed by the former US president Barack Obama and by the current US administration led by Donald Trump.

"You have to realize, 36 months of blood, sweat and tears, 36 months where we paid 73,350 million dollars without delay, not even a second, recently we paid 2,000 million dollars".

He stressed that the country has made progress in fulfilling its commitments, "even in difficult circumstances." He added that the government remains committed to obtaining "favorable and fair conditions" for refinancing.

He also stressed that Venezuela has stopped earning profits due to the fall in oil prices, "This period while I paid 73,350 million dollars on the one hand, on the other we stopped earning 100 billion dollars due to the fall in the oil price".

However, the Executive branch reiterated its commitment to guarantee everything needed to the people for the normal development of the country. "They can’t defeat the conscience of Venezuela, they can’t defeat the people of Bolivar, our strategy is to refinance all the external debt, because the priority is the economic life of the country, the growth and development of Venezuela."

Last Updated on Monday, 13 November 2017 17:42

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