Venezuela Sucking up Chinese Cash

Discussion in 'Latin America' started by Manonthestreet, Dec 8, 2017.

  1. Manonthestreet
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    Manonthestreet Platinum Member Supporting Member

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    you would think a revolutionary would know revolutionaries cant be trusted ..........
    Venezuela: China's Sinopec sues oil company PDVSA over unpaid bills
    Venezuela and PDVSA owe more than $60 billion just to bondholders. In total, the country owes $196 billion, according to a paper published by the Harvard Law Roundtable.

    China's state banks loaned $60 billion to Venezuela between 2007 and 2016, and the lawsuit is just the latest sign that Beijing is growing impatient with the embattled South American country.

    Sinopec doesn't hold back in its complaint, slamming PDVSA for its "disingenuous nature [and] feigned promises to make full payment."
     
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  2. Bleipriester
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    Bleipriester Freedom!

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  3. Manonthestreet
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    Manonthestreet Platinum Member Supporting Member

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    So past leeway......over the Falls in freefalll
     
  4. waltky
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    waltky Wise ol' monkey Supporting Member

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    Venezuela's massive currency devaluation is a 'scam'...
    [​IMG]
    Venezuela's massive currency devaluation is a 'scam' — and does 'nothing' to ease its economic crisis, analysts say



    • 20 Aug.`18 - In a radical attempt to end a prolonged period of economic turmoil in the oil-rich, but cash-poor nation, Venezuelan President Nicolas Maduro announced Friday that his socialist administration would issue new banknotes after lopping five zeroes off the beleaguered bolivar.
      [*]"I want the country to recover and I have the formula. Trust me," Maduro said in a speech broadcast on state television Friday evening.
      [*]The International Monetary Fund (IMF) has predicted inflation in the country will exceed 1 million percent this year.

     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    See also:

    Residents of Brazil Border Town Attack Camps for Venezuelan Migrants
    Aug. 19, 2018 — Residents of a border town in northern Brazil that has become a main entry point for Venezuelans seeking refuge destroyed migrant camps over the weekend in one of the most dramatic instances of a backlash to the Venezuelans’ growing presence there.


     
  6. Dan Stubbs
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    Dan Stubbs FORGET ---- HELL Gold Supporting Member Supporting Member

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    China is going to lose their shirt and pants giving money to that gov, they should really know better.
     

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