China: Venezuela has "credibility" and has turned promises into "facts"

China today considered that the agreement reached between the governments of Venezuela and Russia for the restructuring of the debt of Caracas shows "credibility" and that the Venezuelan Executive has turned his promises "into deeds".

Beijing, Nov 16 (EFE) .- China today considered that the agreement reached between the governments of Venezuela and Russia for the debt restructuring of Caracas shows "credibility" and that the Venezuelan executive has turned his promises "into deeds".

"The Venezuelan government has promised to pay the debt and has turned its words into deeds," a spokesman said today. Chinese Foreign Ministry, Geng Shuang, at a press conference.

"We believe that the Government and the people of Venezuela have the credibility to adequately manage the issue of debt "of the Latin American country, he added.

However, Geng avoided responding with clarity to questions about whether China is negotiating with Caracas a similar restructuring of its debt, which would currently amount to about 23,000 million dollars.

"We hope that the affected parties can resolve this issue through negotiations," said the spokesman, who He noted that "currently, the financial cooperation between China and Venezuela continues."

Russia and Venezuela signed a restructuring agreement on debt payments in Moscow yesterday. Venezuelan with that country (about 3.15 billion dollars) whose terms are confidential but will allow Caracas to make minimum payments until 2026.

The announcement was few days after the rating agency Standard & Poors (S & P) declared the sovereign debt of Venezuela in a partial state of suspension of payments ("default"), a decision taken after the announcement from Caracas that it was negotiating the restructuring of its external debt, amounting to some 150,000 million dollars.

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