Russia can till the end of the year to negotiate another debt restructuring in Venezuela. On Monday told the Finance Minister Anton Siluanov. Most likely, no benefit Moscow will not get the Federal budget has already lost this year because Venezuela is almost 54 billion rubles. The head of state Nicolas Maduro, who is considered the enemy in Washington, October 4, will arrive in Russia.
According to the head of the Russian Finance Minister Anton Siluanov, it is possible that the issue of restructuring the debt of Venezuela to Russia will be resolved before the end of this year.
“As for Venezuela, the work in this direction, we are looking for mutually acceptable options for the two countries,” he said.
Earlier, the Minister reported that Moscow has received the statement of Venezuela.
“We had treated colleagues from Venezuela about how to conduct such a restructuring, they have difficulties with the execution of the debt. We carry out this work in the framework of the Paris club of creditors on the one hand, on the other hand is carried out directly through bilateral contacts, to develop a debt restructuring mechanism. This work is still in process, it is not complete. I am sure that we will find a mutually acceptable solution with Venezuela,” — said Anton Siluanov.
Russia a year ago, has restructured the debt of Venezuela. The decision of the government, which was adopted in September 2016, it was noted that, as of September 25, the amount of debt is $2,84 billion
“Consolidated liabilities for the principal amount repaid Venezuelan party within 3 years in equal semi-annual installments on March 31 and September 30 of each year, with the first payment to repay the consolidated obligations for the principal amount is 31 Mar 2019”, — stated in the document.
From 26 September 2016 on used amount of credit bear interest at the rate of 8% per annum, the interest rate on overdue and consolidated debt is set at 12% per annum.
Loan agreement between the governments of the two countries was formalized in December 2011. Russia gave Venezuela a credit line of up to $4 billion of that money had to go for the purchase of Russian industrial products.
Non-payment of debt is costly for Russia. The Federal budget in 2017 will be reduced by 53.9 billion, due to the fact that Venezuela did not fulfill its obligations. It is stated in the conclusion of the accounting chamber of the Russian Federation.
It is worth noting that the debt “Rosneft” has also Venezuelan petroleum state company PDSVA. The parties are now negotiating the parameters of debt settlement.
Caracas not fulfill their obligations, not only to Russia. According to Bloomberg, Venezuela has delayed payment of $185 million on government bonds, which should have been carried out until September 15. If the holders of securities will not receive my money within 25 days, it will be declared a technical default.
Venezuela is experiencing a severe economic and political crisis. The situation in the country deteriorated sharply because of falling oil prices and refusal to cancel state regulation of consumer and currency market. In Venezuela against the background of hyperinflation, there is a shortage of food, medicines and other goods.
The opposition is trying to dismiss the government of President Nicolas Maduro, and many months conducting mass protests. In support are the US and the EU. Washington imposed sanctions against Venezuela, and recently was denied entry to officials from that country.
The President of the United States Donald trump in September, speaking at the UN, called the current Venezuela regime “the socialist dictatorship of Nicolas Maduro”, which led to the terrible suffering of the population. Nicolas Maduro in debt left.
“Trump every day about what I said, trump is obsessed with Maduro, it’s because I’m a working man, and he used to show respect to others”, — quotes the head of state of El Tiempo. The Venezuelan President added that when trump calls him a dictator in his heart the strength to fight.
Russian President Vladimir Putin has maintained cordial relations with Maduro’s predecessor, Hugo Chavez, who has clashed with the United States, supports the current President. Nicolas Maduro will arrive with the next visit to Moscow on 4 October. He will participate in a panel session at the international forum “Russian energy week — 2017”, and also got to meet Vladimir Putin.
Russia is helping Venezuela not only by restructuring loans. In mid-September, the Minister of agriculture Alexander Tkachev said that Venezuela plans to export about 600 thousand tons of wheat in the 2017-2018-m marketing year.
