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Saturday, July 23, 2011

Dominican Republic to pay for Venezuelan oil with uniforms, meat

The Dominican Republic plans to partially pay for fuel under a Venezuelan oil-supply pact with military uniforms and chicken meat.

Venezuelan Ambassador Alfredo Murga told reporters Monday that both governments decided that the Dominican Republic can settle its debts under the Petrocaribe Initiative with textiles and meat.
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Santo Domingo had been paying for the Venezuelan oil with tourism services, black beans, and other crops.

Under Petrocaribe, member countries in the Caribbean have the option of paying partially for Venezuelan fuel with services or goods.

State-owned Reservas bank administrator Vicente Bengoa says the Dominican government's Petrocaribe bill stands at roughly $2 million.

Source: Forbes

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