Report: China Cuts Off Venezuela’s Credit, No Loans Since 2016

The Spanish newspaper El País"the mournful outlook of the restructuring of its financial obligation causes significant unpredictability over the Venezuelan federal government's capability to pay its expiring financial obligations, which could produce a high danger of default."Yet China has continued to support its choice to buy the repressive Venezuelan routine. In February, following a condemnation from a U.S. Treasury authorities of China's involvement in the South American nation, Chinese Foreign Ministry spokesperson Geng Shuang disparaged the Treasury as"irresponsible.""The loan contracts of both nations adhere to global standards, laws and guidelines, and the outcomes have benefited local people,"Geng firmly insisted, including that both sides gave the table a" win-win spirit." "The China-Venezuela cooperation has promoted Venezuela's socio-economic advancement and has been welcomed and supported by all walks of society,"Geng said.For the very first time considering that Maduro took power, however, China cannot issue him a full-throated message of congratulations following

completion of a deceptive election cycle on May 20 that led to an extension of his guideline. Maduro restricted true opposition candidates from running against him, instead only running against leftists and assorted chavistas. Even these candidates accused Maduro of fraud against them."Regarding the election in Venezuela, China has followed the concept of non-interference in others'internal affairs as always, and our company believe the Venezuelan government and people are capable of managing their domestic affairs," Foreign Ministry spokesperson Lu Kang informed reporters the day after the"election." The Global Times, while declaring Maduro's success was an item of a"violent"and"divided"opposition-- not keeping in mind the opposition was banned from taking part in the election-- also warned thatMaduro has actually failed to manage his nation. A post-election analysis column cautioned"it will be no smooth sailing for [Maduro] as the country is bogged down in turmoil in the house and abroad." The election's low turnout, an open demonstration against Maduro, "reveals public disenchantment with the political procedure," the Times confessed, accompanying the analysis with an uncomplimentary political animation. Via Global Times Follow Frances Martel on Facebook and



Language »