China’s support for Venezuela has benefited ordinary people and been broadly welcomed, the foreign ministry said after the U.S. Treasury accused China of aiding Venezuelan President Nicolas Maduro’s government with murky oil-for-loan investments.
Chinese Finance Minister Xiao Jie, visited Argentina last week where he met with president Mauricio Macri and other officials ahead of the upcoming meeting in Buenos Aires of the G20 finance ministers and central banks governors. There was no official briefing of the different meetings or the interview with Macri in Casa Rosada.
China has awarded Venezuela 5 billion dollars for unspecified “development plans,” President Nicolas Maduro said on Sunday, approximately three months after an official visit to China. According to published reports, the loan is part of a 10 billion deal to be completed in the following months.
Chinese President Xi Jinping pledged on Thursday 250 billion dollars in investment in Latin America over the next five years as part of a drive to boost resource-hungry China’s influence in the region.
The importance of forging closer strategic ties between China and Latin America was underlined by Alicia Barcena, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), in her speech to the China-Community of Latin American and Caribbean two-day ministerial forum that took place in Beijing.
Global economic activity should strengthen in the second half of the year and accelerate in 2015, although momentum could be weaker than expected, IMF chief Christine Lagarde said, hinting at a slight cut in the Fund's growth forecasts.
The summit of G77 leaders plus China wrapped up Sunday with a call for an end to poverty by 2030, after a demand by Bolivia's President Evo Morales to eliminate the UN Security Council. It also marked the presence of Beijing which has become the leading trade partner of many Latam countries.
China has offered to set up a 10 billion dollars credit line for Latin American countries to support infrastructure projects in the region. The proposal was made by China's Premier Wen Jiabao as he wrapped up his visit to the region with a conference at the UN Economic Commission for Latin America and Caribbean, ECLAC, main offices in Santiago de Chile.