The $5bn line of credit announced by
Maduro and his economy and finance minister Simon Zerpa last week was
originally negotiated in 2014, the palace official said, but was never
disbursed by China Development Bank (CDB) because of Chinese concerns over how
the funds would be spent by Caracas. "Maduro has announced several times
since 2014 that his government had obtained firm guarantees from CDB of a new
$5bn loan or line of credit," the official said, but it's always been the
same loan. More…
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