Venezuela condones Hondura´s debt

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Venezuela condones Hondura´s debt

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Venezuela condones Hondura´s debt

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Caracas, Tuesday, January 15, 2008. During his Central American tour, Venezuelan President, Hugo Chavez said his country condoned Hondura an old debt for US$ 30 million. He also invited Honduran President Manuel Celaya to join 16-member Petro Caribe, an oil regional cooperation scheme. Since 2005 and under the Petro Caribe scheme, Venezuela sells 200 thousand oil barrel a day to the 15 Caribbean countries. They can pay 60% of their Venezuelan oil imports within 90 days. The remaining 40% is to be paid within 25 years at a 1% annual interest rate. This debt could be paid with agricultural products. Honduran Parliament will discuss a bill to join Petro Caribe on Monday. At Tegucigalpa, Chavez asked social movements to promote a united Central America. According to La Prensa, analysts perceive this visit would not harm any bilateral relation wiht the US. Honduras has been a traditional ally of Washington in Central America.

Chavez visited Honduras after attending  the inaugural ceremony of President of Guatemala, Alvaro Colom, on Monday This evening, he travelled to Mangua for a bilateral working visit. Upon arrival, Chavez attended a final baseball game in Nicaragua.

Sources: Telesur,  El Universal, Globovision, VTV, RNV, La Prensa, La Tribuna, El Heraldo, Prensa Latina, El Nuevo Herald,