Russia will undertake restructuring of Venezuela’s debt
Russia and Venezuela have signed an intergovernmental protocol to restructure Venezuela’s debt, as reported on the Russian Ministry of Finance’s website.
The new schedule assumes that a debt of $3.15 billion will be repaid within 10 years. The volume of payments will be minimal during the first six years.
The Ministry of Finance explained that the restructuring of the debt “will allow for the allocation of funds for the development of the country’s economy, to improve the debtor’s solvency, and to increase the chances of all creditors for the return of earlier loans granted to Venezuela.”
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