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Financial News: VENEZUELA: PDVSA Begins Bank Transfers To Pay Bonds

VENEZUELA: PDVSA Begins Bank Transfers To Pay Bonds Obligations

11/05/2017 - 18:05:00 (RTTNews)

(RTTNews) - Venezuelan state-owned oil company PDVSA began the banking transfers to the JP Morgan corresponding to the payment of principal and interest of its bonds expiring this year. PDVSA's transfers total US$ 1,121 million, within the framework of compliance with the schedule of financial obligations.

"I have ordered the payment of US $ 1,121 million. We have the money to pay this obligation. Venezuela has fulfilled its international commitments," said President Nicolás Maduro in Caracas.

He stressed that in almost four years in office, he canceled US$ 71.7 billion, including capital and interest on debt commitments.

The president also announced the creation of a Presidential Commission, headed by the vice president, Tareck El Aissami, for the refinancing and restructuring of the Venezuelan external debt.

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