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    November 26, 2017

    Venezuela forgives Dominica's $100 million debt

    November 26, 2017 - Fort Russ News - Paul Antonopoulos

    CARACAS, Venezuela - Venezuela has forgiven Dominica’s outstanding PetroCaribe $100 million debt.

    "Due to the difficult conditions our sister people of Dominica is facing after Hurricane Maria, Venezuela announces the start of a process of short-term and long-term debt forgiveness," Jorge Arreaza, Venezuela’s minister of foreign affairs, said during a forum on climate change organized by the United Nations and the Caribbean Community of Regional Integration. 

    "This is to allow the government of brother prime minister of Dominica, Roosevelt Skerrit, funds for the reconstruction of his country as well as the creation of fiscal space to access new credit," the foreign minister continued. 

    The move was done in a show of solidarity.

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