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World News

PDVSA, other firms' debts, not included in Moscow-Caracas debt deal - minister

MOSCOW (Reuters) - Funds borrowed from Russia by Venezuelan firms, including oil producer PDVSA, are not part of a debt restructuring deal agreed between Moscow and Caracas on Wednesday, Venezuelan Economy and Finance Minister Simon Zerpa told reporters.

Under the terms of the Russo-Venezuelan debt deal, Caracas will pay Moscow back $3.15 billion over a 10-year period.

Those terms are quite flexible and favourable for Caracas, Venezuelan Vice President for Economics Wilmar Castro Soteldo said.

Reporting by Polina Nikolskaya and Jack Stubbs; Writing by Denis Pinchuk; Editing by Andrew Osborn

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