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Post by scumbuster on Jul 26, 2016 8:27:45 GMT -5
CARACAS, Venezuela (AP) -- Venezuela is getting some financial relief as it burns through foreign reserves to pay for imports of badly needed food and medicine. On Monday, the Latin American Reserve Fund said it approved a three-year-loan of $482 million for Venezuela*s central bank. The loan represents about 5 percent of the central bank*s reserves, which have plunged to a 13-year low as a collapse in oil prices forces the government to scramble for hard currency amid widespread shortages of basic goods. Venezuela*s opposition has questioned the legality of the loan since it didn't have the blessing of congress. But the Colombia-based multilateral lender, which was created by regional governments in the 1970s to assist members in time of financial stress, said Venezuela*s Supreme Court signed off on the request. finance.yahoo.com/news/venezuela-receives-major-loan-boost-025708985.html
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Post by flynnflanagan on Jul 26, 2016 10:45:20 GMT -5
That's about $20 for each person living in Venezuela. What amount will filter down to those that need it?
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Post by scumbuster on Jul 26, 2016 11:16:57 GMT -5
That's $.10 for each person after the politicians pocket their share.
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Post by suba on Jul 26, 2016 12:21:20 GMT -5
No one except politicians and generals will see any of it. What a waste of money, how many times do these idiots need to be told, how much evidence do they need before they understand that they are just lining Maduro's pockets?
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