Chilean central bank revokes reciprocal credit line with Venezuela

Friday, September 22nd 2017 - 09:25 UTC

Full article 6 comments

Chile’s central bank said it had revoked a reciprocal credit line with its Venezuelan counterpart, citing what it called Venezuela’s failure to pay back its debts. In a statement, Chile’s central bank said it had notified Venezuela’s central bank and that the line would be cancelled within 10 days. Read full article

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Marti Llazo
The same Chile that continues to support North Korea.

What's the real difference? North Korea keeps paying the chilenos. Venezuela doesn't.
Sep 22nd, 2017 - 02:51 pm - Link - Report abuse +1
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Chicureo
Respectfully... Where did you read my stupid government was supporting N.K.?
Sep 23rd, 2017 - 12:48 am - Link - Report abuse 0
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Marti Llazo
Chile sells copper to North Korea that is used in their nuclear programme, along with food, wine (of course) and other food products. The Bachelet government refused to even consider joining in the sanctions being recommended, following the recent North Korean weapon launches (Bachelet, we recall, was trained in East Germany and retains sympathies with the former Eastern Bloc). Of all Latin American countries, Chile purchases the most from North Korea,and pays in dollars which the North Korean government greatly needs. Chile buys specialty steel and iron products from North Korea, among other materials, and the trade balance is significantly in favour of North Korea. You can obtain further details from MINREL (Ministerio de Relaciones Exteriores).
Sep 23rd, 2017 - 03:35 am - Link - Report abuse +1
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Chicureo
Thank you Marti for your response. As a Chilean I feel woefully ignorant and a bit ashamed by my government's political decision to trade with NK. Maybe now that will end...
Sep 24th, 2017 - 06:49 pm - Link - Report abuse +1
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Marti Llazo
Chicureo

Unsurprisingly, Chile established relations with nK during the.... you guessed it..... the government of Marxist Allende. The Pinochet government broke off those relations in 1973 after the liberation of Chile. Aylwin's government re-established relations with nK in 1992.
Sep 24th, 2017 - 10:16 pm - Link - Report abuse 0
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DemonTree
Interesting. It's surprising how many countries do have diplomatic relations with North Korea. Some of the few who don't - apart from the obvious South Korea, Japan and the US - are Argentina and France. The UK even has an embassy there.

Marti, where did you read that the Chilean government refused to join in sanctions? The articles I found said that Chile has 'strictly applied' all sanctions imposed by the UNSC. Trade with Chile is
Sep 25th, 2017 - 11:17 am - Link - Report abuse 0
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