Venezuela pays off multilateral loans, says goodbye to IMF

Maybe he could help Georgie, to understand finances, You think?

Source: FOCUS News Agency
15 April 2007 00:27 FOCUS News Agency
CARACAS. Venezuela has paid off all its debts to the International Monetary Fund and World Bank and told them goodbye after fiercely criticizing the institutions for policies it claims have perpetuated poverty. "My dear Sirs at the World Bank, Sirs at the International Monetary Fund goodbye to you. Venezuela is free ... and sovereign" Finance Minister Rodrigo Cabezas told the state TV broadcaster Saturday "We are closing a historic cycle of indebtedness" Cabezas said, adding that Venezuela "does not have any debts§ with the institutions.
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The Associated Press April 14, 2007, 5:49PM EST

Venezuela pays off multilateral loans

CARACAS, Venezuela
Venezuela said Saturday it has paid off its debts to the International Monetary Fund and the World Bank and is cutting ties to the two institutions, which the government of President Hugo Chavez accuses of perpetuating poverty and economic ills.
"My dear sirs at the World Bank, sirs at the International Monetary Fund -- goodbye to you. Venezuela is free ... and sovereign," Finance Minister Rodrigo Cabezas told state TV.
By making early payment on loans expiring in 2012, Venezuela saved US$8 million (euro6 million) in interest payments, Cabezas said.
"We are closing a historic cycle of indebtedness," he added. "We do not have any debts (with them)."

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