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Colón Free Zone slashes Venezuela debt

Monday, June 6, 2016

The debt allegedly owed by Venezuela  to Panama’s Colon Free Zone plunged  from $530 million to $41 million, following a recent audit using a different  methodology.

According to Free Zone Manager Surse Pierpoint, the new audit was conducted “because there was a lot of skepticism on the part of Venezuela over the figure.” Users of the Free Zone have opposed the agreement, saying it does not reflect the actual debt.

Source: Newsroom Panama