National Energy Commission (CNE) executive director Angel Canó, on Thur. stated concern over the unexpected drop in the supply of fuel for power plants and asked to diversify the energy Continue Reading
(Bloomberg) — The Dominican Republic paid off almost all of a $4.1 billion debt owed to Venezuela for years of oil shipments after raising funds through a bond sale last week, Finance Minister Simon Lizardo said. With a discount of more than 50 percent, the government used $1.93 billion to pay off 98 percent of its debt to Venezuela, Lizardo told reporters Thursday in Santo Domingo. The deal will immediately reduce its public debt by about 3.3 percent of gross domestic product, Lizardo said, according to the government’s information service. “In very rare occasions can a country make a transaction of this magnitude,” he said. The agreement was concluded on Jan. 27, according to the Finance Ministry. The Dominican government had accumulated the debt under preferential financing terms afforded to it as a member of Venezuela’s Petrocaribe energy program. Since Petrocaribe was conceived in 2005 by former President Hugo […]
