The Russian government has adjusted the draft Protocol on amendments to the agreement on the loan Venezuela from 8 December 2011. According to the amendments, the debt for a total amount of 2.84 billion dollars konsolidiruyutsya, under the new schedule, it is repaid in equal semi-annual tranches over three years, beginning in March 2019.
The corresponding decree was signed by Prime Minister Dmitry Medvedev. The document is available on the official Internet portal of legal information.
In addition, since September 26, 2016 on used amount of credit bear interest at the rate of 8% per annum, interest on overdue interest at 12%.
In January 2016, Venezuelan President Nicolas Maduro has imposed a state of emergency economic position. The Latin American country faced a shortage of electricity, water, food and many consumer goods; international gold reserves declined by 25% during the first half of 2016.
The opposition lays the responsibility for the decline in the economy held by the ruling socialist policy, in particular, on President Maduro, the successor of the late Hugo Chavez. In early 2017 it may hold a referendum on early termination of powers of the President Maduro.
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