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Venezuela Debt Restructuring
October 4, 2017 16:08


 Minister of Finance of Russia Anton Siluanov will not rule out the restructuring of Venezuela's debt until the end of 2017, according to Rambler News Service.

According to him, the work is in progress in this direction and "mutually acceptable options for the two countries" are being sought. In early September Siluanov said that Venezuela had asked Russia to restructure the state debt to Moscow. He added that Russia implemented this work within the framework of the Paris Club of creditors and simultaneously carried out the bilateral contacts for the development of mechanism for restructuring.

In September 2016, the Russian government has already agreed to restructure Venezuela's debt by $ 2.84 billion, in particular, the term for part of the payments transferred. In June, the Chamber of Accounts' resolution on the amendments to the budget of 2017 said that Venezuela had violated its obligations to Russia, in connection with which the changes in the budget had been planned to reduce the volume of returns on state financial and export credits by 53.9 billion rubles.


Author: Anna Dorozhkina


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