Brasil freezes line of credit with Venezuela, Cuba for-non payment

Brazil froze credit lines for exports from Venezuela
The measure occurs after the non-payment of more than 274 million dollars

By EL NACIONAL WEB
DECEMBER 27, 2018 09:40 PM | UPDATED ON DECEMBER 28, 2018 09:31 AM

The Brazilian government froze on Thursday the granting of credit insurance to new exports from Venezuela.

The measure, which also affects Cuba, occurs after a non-payment of financing to the National Bank for Economic and Social Development (Bndes), which was insured by the Export Guarantee Fund (FGE), said Folha de S Paulo .

Venezuela was declared a moratorium on payments by Brazil after it failed to pay a loan of more than 274 million dollars, which had to be paid in January.

Brazil plans to spend 1,500 million reais (approximately 383 million dollars) to cover the default of payments from Venezuela, Mozambique and Cuba.

http://www.el-nacional.com/noticias/economia/brasil-congelo-lineas-credito-exportaciones-venezuela_264607

Venezuela has defaulted on nearly every loan made to it (a nation with the worlds largest proven reserves of oil) except for the loans it took out with Goldman Sachs (the Hunger Bonds). Despite alleged "friendships" with China and Russia, neither nation is lending any more money to the Castroist regime, but instead, debt is being repaid in oil, or in the case of Russia, majority ownership of oil extraction and refining (against the Venezuelan constitution, but that hasn't stopped Maduro yet)