Chinese loans to Venezuela total USD 49.5 billion in seven years

At the end of 2013, Venezuelan President Nicolás Maduro announced a new disbursement related to the last loan signed with China. In this way, Caracas continues to contract debts with China, a cycle that began seven years ago. Far beyond entering agreements in different areas, Venezuela and state-run oil company Pdvsa have signed vast loan agreements amounting to USD 49.5 billion in 2007-2013, according to official data. More...