Thursday, September 21, 2017

Brazil Seeks to Avoid Venezuela Default on $5 Billion Contracts-Paper


Brazilian officials plan to visit Venezuela next week to prevent the oil-rich nation from defaulting on contracts worth as much as $5 billion (£3.71 billion) after falling in arrears on a payment due to infrastructure contractors this month, newspaper Folha de S.Paulo reported on Thursday. Venezuela missed a $262 million payment owed to Brazilian contractors in September, the newspaper said, adding the government will send representatives to Caracas to discuss the matter. The Brazilian negotiators will include central bank and Finance Ministry officials, Folha reported, citing unnamed government sources. More…

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