NewsWhore
06-27-2012, 03:20 PM
The Dominican Republic's debt with Venezuela had risen to US$2,659.2 million by March of this year, making it the country's largest creditor, replacing the Inter-American Development Bank (IDB) to which the country owes US$2,183.7 million, as reported in Diario Libre.
The Venezuelan ambassador in the DR, Alfredo Murga Rivas, said that the debt is manageable as there is harmony between the two countries.
The debt with Venezuela is to be paid over 25 years at an interest rate of 1% a year. In addition, the DR receives 50,000 barrels of petrol a day, which it is paying for with food products, although Murga Rivas said that this is just the beginning and that it will develop much more in the future.
He said that the agreement works for both sides as Venezuela receives the foodstuff that it does not have. He added that it was a strategic and economic alliance that would grow in the future.
The president of the Dominican Petroleum Refinery, Francisco Mendez concurs that Petrocaribe has been a great help to the country enabling it to get through difficult economic times due to the high price of fuel. He said that Venezuelan President Hugo Chavez has continued to cooperate with the DR.
More... (http://www.dr1.com/index.html#3)
The Venezuelan ambassador in the DR, Alfredo Murga Rivas, said that the debt is manageable as there is harmony between the two countries.
The debt with Venezuela is to be paid over 25 years at an interest rate of 1% a year. In addition, the DR receives 50,000 barrels of petrol a day, which it is paying for with food products, although Murga Rivas said that this is just the beginning and that it will develop much more in the future.
He said that the agreement works for both sides as Venezuela receives the foodstuff that it does not have. He added that it was a strategic and economic alliance that would grow in the future.
The president of the Dominican Petroleum Refinery, Francisco Mendez concurs that Petrocaribe has been a great help to the country enabling it to get through difficult economic times due to the high price of fuel. He said that Venezuelan President Hugo Chavez has continued to cooperate with the DR.
More... (http://www.dr1.com/index.html#3)