Latin America

GatoGordo

(2,412 posts)

14. Chavismo is on the hook for $15 billion to the Chinese

Tue Nov 14, 2017, 12:52 PM

Nov 2017

Last edited Tue Nov 14, 2017, 02:39 PM - Edit history (1)

$196 billion to all parties.

The Chinese are keeping mum on any "renegotiation of debt". The Russians are done loaning money and are taking control of state assets (Amuay refinery)

I doubt China has as much faith in Chavismo as Maduro would say they do. They (Chavistas) are about as corrupt as they come. Which is why Rosneft will assume control over Amuay instead of throwing more money down the Chavista rat-hole. China, I assume, will offer another grace period to Chavismo... for some more Venezuelan state assets.

Remember, the AN controls the purse. Not the ANC. Any debt incurred outside of the AN will not be honored, which is why this "renegotiation of debt" by Maduro is a fraud. Chavismo has nothing to offer debt holders.

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Default Day in Venezuela [View all] GatoGordo Nov 2017 OP

So if not for American meddling the debt could be refinanced? Which is not uncommon in commerce. Fred Sanders Nov 2017 #1

Renegotiated debt takes two willing partners GatoGordo Nov 2017 #2

Shambles after 1999 same as the shambles before. Back on topic, the American sanctions Fred Sanders Nov 2017 #3

How familiar are you with Venezuela pre-1999? GatoGordo Nov 2017 #4

Oh my. MyNameGoesHere Nov 2017 #8

That pre-Chavismo Venezuela was far superior to Chavista Venezuela? GatoGordo Nov 2017 #16

You're history is a few years MyNameGoesHere Nov 2017 #19

Citation needed. IAmTheNight Nov 2017 #5

Here ya go...some remember history, some choose to suppress: Fred Sanders Nov 2017 #6

And today's a thousand times worse under Chavista rule IAmTheNight Nov 2017 #7

A thousand times, ya don't say? I answered your request...now you are upset...I get it. Fred Sanders Nov 2017 #9

Inflation in ChavismoLand LAST MONTH was over 50%. GatoGordo Nov 2017 #10

Chavez sabbat hunter Nov 2017 #13

And not only that, but the Chavista leadership decided to hoard most of the oil revenue IAmTheNight Nov 2017 #20

Delcy looks very fashionable in her Ferragamo shoes and Hermes scarf GatoGordo Nov 2017 #21

Only way he won't default sabbat hunter Nov 2017 #11

Chavismo is on the hook for $15 billion to the Chinese GatoGordo Nov 2017 #14

Winner winner, chicken dinner! GatoGordo Nov 2017 #12

It's official GatoGordo Nov 2017 #15

More: EX500rider Nov 2017 #17

I have relatives (wife's extended family) still living in Venezuela. GatoGordo Nov 2017 #18

13,000,000% and no end in sight GatoGordo Nov 2017 #22