Chile central bank revokes reciprocal credit line with Venezuela

Chile’s central bank said on Wednesday it had revoked a reciprocal credit line with its Venezuelan counterpart, citing what it called Venezuela’s failure to pay back its debts. In a statement, Chile’s central bank said it had notified Venezuela’s central bank and that the line would be cancelled within 10 days. The monetary authority said it has been taking steps to mitigate its exposure to Venezuela since 2014 and was currently owed $2.1 million by that country’s central bank. More…