Only 22.59 percent of the Venezuelan debt has been paid to Colombia
The legality of almost one third of the USD 1.18 billion owed to Colombian exporters is being probed
Western Hemisphere
Since Venezuela's President Hugo Chávez and his Colombian counterpart Juan Manuel Santos agreed to restore diplomatic relations in August 2010, the issue of the debt owed by Venezuelan importers to Colombian manufacturers has been on the bilateral agenda.
However, the rate of payment has been slower than initially expected. According to reports from businessmen of both countries, Venezuela has only paid USD 268 million (22.59 percent), out of the USD 1.19 billion initially established as the total amount of debt from 3,187 applications introduced.
Another USD 479 million would be paid in the short term. Of this total, about USD 160 million are to be paid by the Central Bank of Venezuela (BCV) and USD 319 million are about to be processed by the BCV. This amount and the USD 268 million that have been already paid would represent 62.98 percent of total debt.
Since this subject started to be discussed, about USD 338 million, almost one third of the USD 1.18 billion owed to Colombian exporters, was put in the fridge for "investigation" purposes. Authorities suspect of over-invoicing, triangulation and the kind of commodities.
The legality of almost one third of the USD 1.18 billion owed to Colombian exporters is being probed
Western Hemisphere
Since Venezuela's President Hugo Chávez and his Colombian counterpart Juan Manuel Santos agreed to restore diplomatic relations in August 2010, the issue of the debt owed by Venezuelan importers to Colombian manufacturers has been on the bilateral agenda.
However, the rate of payment has been slower than initially expected. According to reports from businessmen of both countries, Venezuela has only paid USD 268 million (22.59 percent), out of the USD 1.19 billion initially established as the total amount of debt from 3,187 applications introduced.
Another USD 479 million would be paid in the short term. Of this total, about USD 160 million are to be paid by the Central Bank of Venezuela (BCV) and USD 319 million are about to be processed by the BCV. This amount and the USD 268 million that have been already paid would represent 62.98 percent of total debt.
Since this subject started to be discussed, about USD 338 million, almost one third of the USD 1.18 billion owed to Colombian exporters, was put in the fridge for "investigation" purposes. Authorities suspect of over-invoicing, triangulation and the kind of commodities.
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