Jamaica is in talks with financial institutions on a plan to pay off debt it owes Venezuela for oil it received through the Petrocaribe energy program, Finance Minister Peter Phillips said. The talks come less than two months after the Dominican Republic struck a deal to pay $1.9 billion for nearly all of the $4.1 billion it owed Petroleos de Venezuela SA, which administers Petrocaribe. Phillips said a similar deal makes sense for Jamaica, but he declined to provide details on how the deal would be structured or how soon an agreement could be reached. “We certainly have valued and continue to value the Petrocaribe arrangement,” Phillips said Wednesday in an interview at the Jamaica Investment Forum in Montego Bay. “We are mindful of the particular needs of our Venezuelan counterparts and in that space there is some prospect […]