Putin approves a US$ 4bn loan to Venezuela

Wednesday, July 22nd 2020 - 08:06 UTC

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Russian President Vladimir Putin has signed a law ratifying the protocol to the intergovernmental agreement on providing a loan to Venezuela by Moscow, which guarantees timely debt repayment to Russia.

The law was published on the official website of the legal information of the Russian government on Monday.

The protocol stipulates changes into a number of terms connected with restructuring of the debt of the of Venezuela to the Russian Federation, including development of a mechanism that guarantees timely repayment of due funds to Russia.

In accordance with the agreement between Russia and Venezuela dated December 8, 2011, the loan amounts up to US$ 4 billion. The Venezuelan government will pay a loan interest rate of 7.4% per annum.

Categories: Economy, Politics, International, Venezuela.

Tags: loan, Nicolas Maduro, Russia, Vladimir Putin.

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Pugol-H
Now where have I heard this before, hummmm, oh yes:

https://en.mercopress.com/2020/07/22/argentine-debt-negotiations-cristina-fernandez-praises-minister-guzman-s-performance

7.4% this time, although I seriously doubt the Russians will settle for 56 cents on the dollar.
Jul 22nd, 2020 - 02:43 pm 0

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