Venezuela's Maduro promises importers overdue hard currency

[Zorro]

Venezuelan President Nicolas Maduro promised to pay back billions of dollars in government debt to disgruntled importers, after widespread shortages of basic goods helped fuel months of deadly anti-government protests.

"We are going to immediately pay back 30 percent of (the total hard currency owed to importers) as a way to move forward on these commitments," Maduro told a gathering of business leaders.

Importers say they are owed $13 billion, and that the government's slow repayment is a key factor in shortages of items as basic as toilet paper that leave many Venezuelans spending hours in lines. Maduro did not put a specific number on what the government would repay or how soon.

Venezuela -- which sits atop the world's largest proven crude oil reserves -- has Latin America's highest inflation rate -- 57 percent. Maduro's heavily state-led government inherited from late leader Hugo Chavez a decade-old system of hard currency controls.

http://news.yahoo.com/venezuelas-maduro-promises-importers-overdue-hard-currency-030501710.html

A step in the right direction.

[Bacchus4.0]

1. wow, this is news. the chavista government says they are going to pay their bills

They are renowned for lying though.

[COLGATE4]

2. Even if it's true (certainly not a forgone conclusion)

he's only agreeing to pay 20% of their debts. 20 cents on a dollar isn't much of a deal.

[Bacchus4.0]

3. Venezuela is special n/t

[COLGATE4]

4. Yeah, I forgot. My bad. nt

[IronGate]

5. So, if I'm reading this right,

even Maduro is admitting that the shortages are the result of a deadbeat govt, not the US CIA RW?

Where are the Maduro apologists now? How come they're not admitting that they were wrong?

[Marksman_91]

6. Such a dumb excuse can only be used for so long.

If they accept that Venezuela's problems are caused by an inept/corrupt government instead of the US/CIA/Alvaro Uribe or a mixture of all those, then they have to admit they were wrong all these years, and obviously they're not gonna do that.

[RobertEarl]

7. Who are these 'importers'?

Koch brothers? US corporations? Who?

Some of you here seem to know it all, so this question should be right up your alley and easy to answer. Eh?

Now, no fudging around with a bunch of BS, if you don't know who these importers are, don't even bother replying.

[IronGate]

8. Does it matter who the importers are?

Maduro has flat out admitted that the reason for the shortages are because of his govt's failure to pay the importers the money they're owed.

[Bacchus4.0]

9. IMporters. IM IM they are Venezuelan business people hello? n/t

[Marksman_91]

10. You're kinda missing the point

Obviously these are entities that the Venezuelan government has no problem doing deals with, and they are flat out admitting they owe money to. Stop trying to spin this around, it's way past the time you and your lot admitted that the Chavista regime has royally fucked up in every single aspect of running a country's economy, especially one blessed with so much oil revenue.