Venezuela to write off Guyana debt

Friday, October 19, 2007 - 10:00

On October 3 Caribbean Net News reported that the South American nation Guyana, which borders Venezuela to its west, will soon benefit from a US$12.5 million debt write-off by Venezuela under an agreement expected to be finalised in the near future.

The article reported that the issue was first raised by Venezuela's President Hugo Chavez during an official visit in 2004, when Chavez said Venezuela would be willing to cancel all of the much smaller nation's outstanding debt to Venezuela.

The Venezuelan government has also approved funds to help finance a shelter for homeless people in Guyana, according to Caribbean Net News.

From GLW issue 728

Tags:

Venezuela

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In these days of growing media concentration, Green Left Weekly is a proudly independent voice committed to human and civil rights, global peace and environmental sustainability, democracy and equality. By printing the news and ideas the mainstream media won't, Green Left Weekly exposes the lies and distortions of the power brokers and helps us to better understand the world around us.

Green Left Weekly, launched in 1990 by progressive activists to present the views excluded by the big business media, is now Australia's leading source of local, national and international news, analysis, and discussion and debate to strengthen the anti-capitalist movements.