ESPACIO PUBLICITARIO
CARACAS, Wednesday November 07, 2012 | Update
 
|
share
|
FINANCE

Central bank assistance to state-run Pdvsa stands at USD 29 billion

Assistance over the last 12 months has spiked to 79%

In late October, state-run oil company Pdvsa reduced its debt by USD 1.3 billion only (File photo)
EL UNIVERSAL
Wednesday November 07, 2012  11:39 AM
Financial assistance to state-owned oil company Pdvsa by the Central Bank of Venezuela (BCV) continues its upward trend. BCV's data shows that by the end of October, the financial institution's aid to the oil company increased by 79% over the last 12 months.

By October 26, the BCV had allocated USD 29 billion to Pdvsa, compared to only USD 16.2 billion during the same period in 2011.

During October this year, the financial aid amounted to USD 30.4 billion. Although by the end of that month the oil company had arranged to pay its liabilities, it only reduced its debts by USD 1.3 billion.

The BCV began providing financial assistance in the first half of 2010 when it received promissory notes that Pdvsa had issued to the National Treasury. Since then, financial assistance has not stopped.

Translated by Jhean Cabrera
|
share
|
ADVERTISING SPACE
Dossier
Explaining impunity at the UN

When we look at the issue of human rights in Venezuela and the relevant reports submitted each year, a clear pattern emerges, namely, the impunity following the violation of rights such as freedom of expression, political rights, and the right to life and personal integrity, which has Venezuela consistently ranking among the lowest scorers in assessment indices.

 Ranking
  •  Read 
 
fotter clasificados.eluniversal.com Estampas
Alianzas
fotter clasificados.eluniversal.com Estampas
cerrar