Guatemala May Join
Petrocaribe
The upcoming meeting of
the Guatemalan Council
of Ministers will
discuss the possibility
of Guatemala join in
Venezuela´s Petrocaribe
initiative, president
Alvaro Colom announced.
“Practically a bilateral
analysis has been
concluded and we await
presenting it to Cabinet
for approval or
disapproval,” Colom told
Prensa Latina.
An official commission
studied the program and
considered it
beneficial, since it
could lead to social
investments where
problems are very bad,
Oscar Figueroa,
Secretary of Planning
and Presidency
Programming, told the
press.
This department was part
of the government group
studying the proposal,
and was also integrated
by the ministers of the
Economy, Finances,
Energy, Mines and
Environment.
According to the
minister of Energy and
Mines, Carlos Meany, a
technical delegation
from Venezuela´s state
run company will visit
Guatemala to explain the
reach of the initiative
and fuel prices.
Petrocaribe was formed
in 2005 to solve
asymmetry in access to
oil resources through a
new scheme of favorable,
fair and equal exchanges
among Caribbean
countries.
Member nations only have
to pay for 60 percent of
the oil purchased, while
the remaining 40 percent
has a 25-year credit, at
with very low interest
rates.
Petrocaribe current
members are: Antigua and
Barbuda, Bahamas,
Belize, Cuba, Dominica,
Granada, Guyana,
Jamaica, Haiti,
Honduras, the Dominican
Republic, Saint Kitts
and Nevis, Saint Lucía,
Saint Vincent and the
Grenadines, Surinam,
Venezuela and Nicaragua. |
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