Venezuela pays $1.54 bn in principal and interest on debt

- 21:58 - 27/02/2016
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    Caracas, Feb 27 (EFE).- Venezuela has paid $1.54 billion in principal and interest owed to international bondholders, the Banking and Finance Ministry said Saturday.

    President Nicolas Maduro's administration "once again manifests its willingness and capacity to honor its financial commitments in a timely manner, demonstrating its solvency in international markets," the ministry said of Friday's payment.

    That same ministry said this week that Venezuela's foreign debt rose to $42.53 billion last year, around $3 billion shy of its record-high debt level registered in 2012.

    Maduro's government, which has repeatedly denied that the crisis-hit country is heading for a default, made the payment at a time when the drastic decline in the price of oil - Venezuela's main source of hard currency - has severely battered the nation's economy.

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