NewsWhore
11-10-2010, 02:20 PM
The Minister of Hacienda, Vicente Bengoa has revealed that the country owes Venezuela nearly two billion dollars for oil obtained under the PetroCaribe Agreement. According to Hoy newspaper, Bengoa said the money had been spent on the electricity subsidy. He said that they began to pay off this debt in October. Some US$21 million has been paid to Venezuela, according to the Minister. This year, US$31 million will be paid and next year the sum would be US$59 million. He said that the debt was being paid in kind, through exports of black beans, liquid sugar, pasta and cattle feed. He said that his ministry has a contract to supply 10,000 tons of black beans to Venezuela.
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