Finance And Liquidity: Venezuela in advanced talks for $5b loan

CARACAS: Venezuela is in advanced talks for a $5 billion loan from international banks and investment funds, the head of the central bank said on Friday, potentially providing an influx of cash for the OPEC member country, which faces heavy debt payments this year. The operation would provide $3 billion in liquidity for the government and $2 billion to finance a gold mining joint venture with Canada’s Gold Reserve. Venezuela’s international reserves fell to a 17-year low of on Friday after the government paid in full its $1.5 billion Global 2016 bond, according to central bank data.

Published in The Express Tribune, February 28^th, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.