23.05.2012 - Venezuela expands China oil-for-loan deal to $8 bln
Venezuela's Congress voted on Tuesday to double the amount the government can borrow from China under a deal that lets the OPEC nation repay loans with oil, potentially adding to the debt burden taken on under President Hugo Chavez. China has become the single biggest foreign source of financing for Venezuela's socialist government, which is borrowing heavily to fund state spending on welfare and infrastructure projects ahead of an October 7 election...............................................Full Article: Source
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