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VENEZUELA'S POLITICAL CRISIS

Venezuela has not yet transferred debt payment to Russia, says deputy minister

At the end of March, Venezuela was expected to pay over $100 mln on its debt, but in early April, Russia’s Finance Ministry said that Caracas had the right to transfer the payment within a month

Russian Deputy Finance Minister Sergei Storchak Alexander Shcherbak/TASS

Russian Deputy Finance Minister Sergei Storchak

© Alexander Shcherbak/TASS

MOSCOW, April 15. /TASS/. Venezuela has not yet made another payment on its $3 bln debt to Russia that was due to be made in March, Deputy Finance Minister Sergei Storchak said on Monday.

"The payment will be made, probably, (we) will inform," he said.

Earlier Deputy Minister did not rule out problems with public debt management, though previously Venezuela never missed payments.

At the end of March, crisis-shaken Venezuela was expected to pay over $100 mln on its debt to Russia. In early April, Russia’s First Deputy Minister, Finance Minister Anton Siluanov said that Caracas had the right to transfer the payment within a month.

In November 2017, Moscow and Caracas signed an intergovernmental protocol on restructuring Venezuela’s debt to Russia amounting to $3.15 bln, which stipulates full repayment within a ten-year period and minimal payments in first six years.

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Venezuela Political crisis in Venezuela

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FACTBOX: Collective Security Treaty Organization

The Collective Security Treaty came into force on April 20, 1994 to herald the emergence what would eventually become the Collective Security Treaty Organization. The six member-countries are Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan

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