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Deal on restructuring Venezuela’s debt to Russia to be signed on November 15 — source

Russia is ready to reschedule Venezuela’s debt payments, a source says

MOSCOW, November 10. /TASS/. The agreement to restructure Venezuela’s debt to Russia is scheduled to be inked on November 15, a well-versed source told journalists on Friday.

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"Will be signed on (November - TASS) 15. The terms are not disclosed. The program on providing state loans is a classified document. The debt has been consolidated and will be restructured," he said.

When asked how long the debt payment will take, the source said: "Around ten years."

"The (repayment) schedule envisions gradually increasing payments," he said, adding that he hopes that Moscow has taken a correct view of "long-term payment capabilities of the borrower."

As reported earlier Russia’s Finance Minister Anton Siluanov said that Venezuela had consented to debt restructuring terms offered by Russia. The country agreed to earlier reached $1 bln debt restructuring arrangements, the minister said.

Previously Siluanov said that Russia is ready to grant an extension for debt repayment to Venezuela and make the first portion with rather beneficial terms.

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