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Venezuela has more than USD 1.2 billion in arrears, according to a deputy

The Venezuelan deputy José Guerra, president of the Finance Committee of the National Assembly (Parliament), said today that the country is in default in relation to the payment of more than 1,200 millions of dollars in interest to the holders of their external debt.

Caracas, November 21 (EFE) .- The Venezuelan deputy José Guerra, president of the Finance Committee of the National Assembly (Parliament), said today that the country is in default in relation to the payment of more than 1.2 billion dollars in interest to the holders of their external debt.

"The government and (the state oil company) PDVSA have more than 1,200 million dollars in interest on these bonds, so they have activated the non-payment of those payments, "said the legislator in a statement sent to journalists.

The opponent said that the national economic crisis "is accelerating dramatically" while the payments of external debt that the Government of Nicolás Maduro has fulfilled in the last few months "are swallowing the dwindling dollars that should enter the Central Bank" (BCV).

Guerra also indicated that during the first half of November "in terms annual the money created by the BCV increased 1,070% ".

He assured that this" money from nothing "is created by the issuing entity to" finance the deficit of the Government and the bank PDVSA ", and He denounced that these practices are "boosting" the depreciation of the bolivar and hyperinflation in the oil nation.

The economist pointed out that all these factors have negatively impacted the remuneration of Venezuelan workers, whom he called "holders of bolivars in default", who must also face daily food shortages, medicines and physical money.

Maduro ordered this month to refinance and restructure "all external payments" of the country, although he assured that it will liquidate the 1.121 billion dollars pay the holders of one of the bonds of the state oil company.

Some financial entities have declared in suspension of payments the so-called Bolivarian revolution.

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