{"id":6674,"date":"2015-03-20T07:30:00","date_gmt":"2015-03-20T12:30:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6674"},"modified":"2015-03-20T07:30:00","modified_gmt":"2015-03-20T12:30:00","slug":"amid-us-coup-venezuela-takes-another-5-billion-loan-from-china","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6674","title":{"rendered":"Amid “US Coup”, Venezuela Takes Another $5 Billion Loan From China"},"content":{"rendered":"

Amid “US Coup”, Venezuela Takes Another $5 Billion Loan From China<\/a><\/h3>\n

The people of Venezuela can rejoice…\u00a0not so fast.<\/em><\/strong>\u00a0Amid paranoid-sounding (though not unlikely) rantings about US-created coups (and blaming ‘economic’ war for his nation’s Socialist utopia hyperinflation), it appears President Maduro just got another life-line (or more rope to hang himself). After begging China’s leader Xi early in January for moar money (and getting it),\u00a0China – which is already Venezuela’s biggest creditor with over $50 billion loaned since 2007<\/strong>\u00a0– as\u00a0Reuters<\/a>reports, is said to\u00a0plan on signing another $5bn loan to Venezuela for “wide-ranging” projects like “mature oil fields<\/strong>.”\u00a0So, it appears\u00a0<\/em>China is enabling Maduro to hollow out his economy even more.<\/em>
\n<\/strong><\/p>\n

As Reuters reports,<\/em><\/a><\/p>\n

\n
China is poised to lend Venezuela around $10 billion in coming months, half as part of a bilateral financing deal and the other half for development of oil fields,<\/strong>\u00a0a senior official at state oil company PDVSAsaid on Thursday.<\/div>\n

The first $5 billion loan, part of the Joint Chinese-Venezuelan Fund, is due to be signed this month\u00a0<\/strong>and will be destined for wide-ranging projects in the OPEC country, said the official.<\/p>\n

The other separate $5 billion loan is set to be clinched in June and will likely stipulate contracting Chinese companies to boost production in PDVSA’s mature oil fields, the source added.<\/p>\n

“China wants to decisively back investments in areas like mature oil fields so that PDVSA can rapidly increase its production,”\u00a0<\/strong>said the source, who asked not to be identified.<\/p><\/blockquote>\n

*\u00a0 *\u00a0 *<\/p>\n

Maybe it’s time to stock up on condoms and toilet paper?<\/p>\n

\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Amid “US Coup”, Venezuela Takes Another $5 Billion Loan From China The people of Venezuela can rejoice…\u00a0not so fast.\u00a0Amid paranoid-sounding (though not unlikely) rantings about US-created coups (and blaming ‘economic’ war for his nation’s Socialist utopia hyperinflation), it appears President Maduro just got another life-line (or more rope to hang himself). After begging China’s leader […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[130,175,2541,2422,588,600,2799,827,851],"class_list":["post-6674","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-china","tag-credit","tag-loan","tag-nicolas-maduro","tag-oil","tag-opec","tag-socialism","tag-united-states","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6674"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6674\/revisions"}],"predecessor-version":[{"id":6675,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6674\/revisions\/6675"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}