Latin America

Bacchus4.0

(6,837 posts) Fri Mar 7, 2014, 04:35 PM Mar 2014

Panama warns Venezuela on debt

http://news.yahoo.com/panama-warns-venezuela-1-billion-debt-192530011.html

Panama City (AFP) - President Ricardo Martinelli warned Venezuela Friday that its decision to break off relations with Panama should not be used as an excuse to renege on its more than $1 billion debt.

"I don't want to think that this is an excuse not to pay and that the Venezuelan state is a deadbeat," he told reporters.

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But Martinelli suggested that Maduro's real motive was to get out from under huge bills owed to the Colon duty-free zone and to COPA, the Panamanian airline.

"Venezuela would appear to be bankrupt, although it shouldn't be because it is a very rich country," said Martinelli.

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Panama warns Venezuela on debt (Original Post) Bacchus4.0 Mar 2014 OP

looks like Ven doesn't intend to pay Bacchus4.0 Mar 2014 #1

And somehow, the US will be blamed for this. smokey775 Mar 2014 #2

I find is amazing Paolo123 Mar 2014 #3

it wasn't a good idea it seems n/t Bacchus4.0 Mar 2014 #4

Bacchus4.0

(6,837 posts)

1. looks like Ven doesn't intend to pay

Reply to Bacchus4.0 (Original post)

Fri Mar 7, 2014, 04:45 PM

Mar 2014

Venezuela suspends negotiation on debt with Panama

http://www.eluniversal.com/economia/140307/venezuela-suspends-negotiation-on-debt-with-panama

Venezuelan Foreign Minister Elías Jaua has informed that break-off of Venezuela-Panama ties includes the suspension of the negotiations on the debt owed by Venezuelan corporations to Panamanian firms based in Colon Free Zone (ZLC).

CFZ's manager Leopoldo Benedetti told AFP that Venezuelan businessmen's debt to providers at the Colon Free Zone (CFZ) amounts to some USD 2 billion, and "arises from the lack of currency of Venezuelan entrepreneurs caused by US dollar shortage in the country."