Earlier, Russia’s Finance Minister Antón Siluánov said that Venezuela had accepted the conditions for the restructuring of its debt proposed by Moscow.
Moscow and Caracas have signed an agreement for the restructuring of the Venezuelan debt, as confirmed by the Russian Ministry of Finance.
«Debt relief» as a result of the agreed restructuring will allow Venezuela «to allocate funds for the development of the country’s economy, improve the solvency of the debtor and increase the chances of all creditors being repaid the loans granted to Venezuela», reads the statement of the Ministry of Finance.
– The amount of the consolidated debt amounts to 3,150 million dollars.
– The new debt maturity term establishes payments for ten years.
– In the first six years, payments will be minimal.
Let’s recall that the President of Venezuela, Nicolás Maduro, during a press conference on October 17, 2017 at Miraflores Palace in Caracas, Venezuela, explained that the country proposes to refinance and restructure its external debt.
Earlier, it was reported that the Minister for Economy and Finance of Venezuela, Simón Zerpa, and the Minister for Agriculture, Wilmar Castro Soteldo, were in Moscow to sign the agreement.
Last week, Russian Finance Minister Antón Siluánov said that Venezuela had accepted the conditions for the restructuring of its debt proposed by Russia.
In 2011, Moscow granted a loan to Venezuela of 4,000 million dollars to finance supplies of Russian industrial products and, in 2014, Caracas requested an extension of the term of the loan.
China: «Venezuela can properly handle its debt»:
Meanwhile, the Ministry of Foreign Affairs of China has affirmed on Wednesday that Venezuela «Can properly handle its debt».
The Foreign Ministry spokesman, Geng Shuang, has indicated in a press conference that the cooperation between Beijing and Caracas in all areas, including financing issues, is «proceeding normally.»
«We believe that the Venezuelan Government and people are capable of adequately managing their affairs, including the debt problem», said Geng.
Information extracted from the Twitter social network account @ActualidadRT
RT en Español
@ActualidadRT
«LAST MINUTE: Russia and Venezuela sign an agreement for the restructuring of the Venezuelan debt https://es.rt.com/5gxk»
7:25 – Nov. 15 2017
RT en Español
@ActualidadRT
«The Russian Government approved a draft protocol to amend the credit agreement with Venezuela that involves debt consolidation of 2.84 billion dollars http://es.rt.com/5gxk»
7:33 – Nov. 15 2017