China Ceases Loaning to Venezuela – Research Group

[Hamartia Antidote]

https://m.sputniknews.com/politics/201610011045893907-china-venezuela-loan/

China will be giving no more credit to Venezuela as the latter has not been paying off its loans in time amid a slump in oil production, director at Inter-American Dialogue research group Margaret Myers says

MEXICO CITY (Sputnik) – Inter-American Dialogue tracks down China’s loans to Venezuela and other Latin American states. According to the research group, China has given a total credit of $60 billion to Venezuela since 2007.

© WIKIPEDIA/ HTTP://BIT.LY/2CH42WT
Russia's Development Bank Plans to Expand Representative Office in China


"China is not especially interested in loaning more money to Venezuela," Margaret Myers said as quoted by CNN Money on Friday.

Venezuela stills owes Chinese state banks about $20 billion, according to experts cited by CNN Money on Friday, but has been slow to pay out its debts as oil production went down to a 13-year-low in Venezuela this year.

Venezuela has been in a state of an economic emergency since January, with product shortages having become widespread in the country. Venezuela’s opposition has blamed President Nicolas Maduro for the economic crisis.

 

[war&peace]

Looks like a political article.

 

[Ram Mahadev]

https://m.sputniknews.com/politics/201610011045893907-china-venezuela-loan/

China will be giving no more credit to Venezuela as the latter has not been paying off its loans in time amid a slump in oil production, director at Inter-American Dialogue research group Margaret Myers says

MEXICO CITY (Sputnik) – Inter-American Dialogue tracks down China’s loans to Venezuela and other Latin American states. According to the research group, China has given a total credit of $60 billion to Venezuela since 2007.

© WIKIPEDIA/ HTTP://BIT.LY/2CH42WT
Russia's Development Bank Plans to Expand Representative Office in China


"China is not especially interested in loaning more money to Venezuela," Margaret Myers said as quoted by CNN Money on Friday.

Venezuela stills owes Chinese state banks about $20 billion, according to experts cited by CNN Money on Friday, but has been slow to pay out its debts as oil production went down to a 13-year-low in Venezuela this year.

Venezuela has been in a state of an economic emergency since January, with product shortages having become widespread in the country. Venezuela’s opposition has blamed President Nicolas Maduro for the economic crisis.

It's from Russian source. Reliable too.

Chinese gave 60 billion already. But only 20 Bil debt?

Nothing is free in. This world. More debts More trouble.

How much is interest rate for CPEC? I guess loan now crossed 52 billion overall? 70+ billion debt without CPEC. Hope Pakistan get back to growth ladder.

 

[C130]

It's from Russian source. Reliable too.

Chinese gave 60 billion already. But only 20 Bil debt?

Nothing is free in. This world. More debts More trouble.

How much is interest rate for CPEC? I guess loan now crossed 52 billion overall? 70+ billion debt without CPEC. Hope Pakistan get back to growth ladder.

China gives a loan and Venezuela sends oil back to China to pay off the loan.

think they were sending either 600,000 barrels a day or 300,000 barrels a day to pay off the debt

here is a good article that goes into detail how Venezuela is screwed.

http://www.forbes.com/sites/christo...venezuela-is-doomed-to-collapse/#5981a9137980

 

[Ram Mahadev]

China gives a loan and Venezuela sends oil back to China to pay off the loan.

think they were sending either 600,000 barrels a day or 300,000 barrels a day to pay off the debt

here is a good article that goes into detail how Venezuela is screwed.

http://www.forbes.com/sites/christo...venezuela-is-doomed-to-collapse/#5981a9137980

Oh cool so they have only 20 billion debt to pay. Not bad.

What about our neighbor? How they will pay back?

If it's for oil interest should be less than 5% but for CPEC it's around 6% and in some of the loan deals it's around 8-double digits.

 

[C130]

Oh cool so they have only 20 billion debt to pay. Not bad.

What about our neighbor? How they will pay back?

If it's for oil interest should be less than 5% but for CPEC it's around 6% and in some of the loan deals it's around 8-double digits.

how will Pakistan pay back for CPEC?? I guess through the services CPEC provides?? let's not get other countries confused for Venezuela which is a socialist bordering on a communist nation, they have mismanaged their country for the last 15 years.

I am sure China will not let CPEC fail and make a lot of money off it too.

 

[wiseone2]

how will Pakistan pay back for CPEC?? I guess through the services CPEC provides?? let's not get other countries confused for Venezuela which is a socialist bordering on a communist nation, they have mismanaged their country for the last 15 years.

I am sure China will not let CPEC fail and make a lot of money off it too.

relying on China for CPEC won't work
most of CPEC $$$ is for power generation projects

 

[mike2000 is back]

Lol. Come on the Chinese should just were off their debts entirely. Afterall they are both brotherly developing countries and against western imperialism. China can't let Venezuela down.