Venezuela 'new government' could get $10 billion in trade financing

Sunday, 14 April 2019 11:39

A group of finance ministers are working on a $10 billion package of trade finance for Venezuela, if a new government is put in place.

That's according to US Treasury Secretary Steven Mnuchin, who said that a group of 20 finance ministers met earlier this week in Washington to chalk out a plan to help Venezuela out of its economic and humanitarian crisis.

More than 50 countries have recognised opposition leader Juan Guaido as the South American nation's leader, while Russia and others still back President Nicolas Maduro.

More from Business News

UK's Jaguar Land Rover to halt US shipments over tariffs

Jaguar Land Rover will pause shipments of its Britain-made cars to the United States for a month, it said on Saturday, as it considers how to mitigate the cost of President Donald Trump's 25% tariff.
US starts collecting Trump's new 10% tariff

U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.
Nasdaq set to confirm bear market as Trump tariffs trigger recession fears

The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field

UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).