“The Haitian Government wishes to inform you that, for several months, negotiations have been underway with the Government of the Bolivarian Republic of Venezuela to restructure the debt contracted in the framework of the PetroCaribe program and other cooperation projects,” an official statement said.

Both parties – according to Le Nouvelliste newspaper – agreed to maintain confidentiality until the end of the procedures that are still underway today.

The Petrocaribe Energy Cooperation Agreement was an oil procurement program between Venezuela and several Caribbean countries that was founded in 2005 and was suspended in 2019.

Under the presidency of Hugo Chávez (1954-2013), Venezuela shipped millions of barrels of crude oil and fuel to its Caribbean neighbors under flexible payment terms.

On February 23, the Venezuelan Government reported the culmination of the process of recovery and the collection of a 500-million-dollar debt, which resulted from the supply of hydrocarbons to Haiti. This figure is only a part of the debt.

jg/jav/mem/joe