CARACAS, Tuesday July 23, 2013 | Update

Venezuela in negotiation with China on a five-billion-dollar loan

The president of the Economic and Social Development Bank of Venezuela (Bandes) reports

A Chinese delegation has been to Venezuela for some days (File photo)
Tuesday July 23, 2013  11:13 AM
The president of the Economic and Social Development Bank of Venezuela (Bandes), Temir Porras, informed that Venezuela and China have held talks to arrange a third line of credit to the fund shared between the two nations. The new credit is expected to amount to five billion dollars, Reuters reported.

"We are advancing in the negotiations; we are having another meeting in Caracas in two weeks, which is very likely to reach the goal: signing a new loan. We look forward to boost Chinese financing a bit higher. That is what we are negotiating at this point," Porras told journalists.
This is all there is

A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.

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