Brazil will go to the Paris Club to try to collect the debt of Venezuela

Brazil will go to the Paris Club to try to collect 262 million dollars owed to it by Venezuela, which among the doubts of the markets has begun to refinance its external commitments, Official sources said today.

Brasilia, Nov 14 (EFE) .- Brazil will go to the Paris Club to try to collect 262 million dollars owed to it by Venezuela, which among the doubts of the markets has begun to refinance its external commitments, informed official sources today.

The Ministry of Finance confirmed that it will appeal to the Paris Club, in its capacity as informal coordinator of external debts, to order to collect those 262 million dollars, which expired last September.

This debt was incurred for commercial operations carried out within the framework of the Payment Agreement and Reciprocal Credits between Central Banks of the Latin American Integration Association (Aladi) and, according to the Ministry of Finance, Venezuela has not yet said when it intends cancel it.

To that situation is added the expiration, scheduled for January next year, of another 270 million dollars that Venezuela owes to Brazil for the same concept.

complaint that Brazil will present to the Paris Club coincides with a refinancing of the external debt initiated by the Government of Nicolás Maduro, through which Caracas has assured that It will comply "fully" with all its obligations.

This Monday, according to Maduro's own government, that process began "successfully" with "Venezuelan debt holders from Venezuela, the United States, Panama, the United Kingdom, Portugal, Colombia, Chile, Argentina, Japan and Germany. "

However, this Monday the credit rating agency US Standard & Poor's (S & P) downgraded Venezuela's sovereign debt in foreign currency to the "default" category after defaulting on the payment of the interests in two types of bonds.

S & P justified the decision in the fact that Venezuela did not comply with the payment of 200 million dollars corresponding to global bonds issued with expirations in 2019 and 2024.

He indicated, in addition, that the payment was not made after the past weekend the 30 days of a grace period were fulfilled.

In The risk rating agency also warned that Venezuela may "enter into suspension of payments again in the next three months."