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LatinNews Daily - 14 September 2018

In brief: Venezuela

* Venezuela’s President Nicolás Maduro has arrived in China on an official visit, where he is to meet with Chinese government officials. Maduro has said that the aim of the visit is to promote “energy investment, economic investments, and trade”. However, the visit has sparked concerns back in Venezuela that what Maduro is truly seeking in China is to secure financing to prop up his government and help it deal with Venezuela’s deepening economic crisis at the expense of further indebting the country. China is already Venezuela’s main creditor but the rumour in Caracas is that Maduro is seeking a new US$5bn credit line for his government. Political opposition leaders in Venezuela such as Deputy Omar Barboza, the president of the national assembly, have said that in their opinion what Maduro is trying to do is to renegotiate Venezuela’s debts with China to “prevent a default”. 

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