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Guatemala withdraws from Petrocaribe

Tuesday, November 5, 2013

Guatemala has withdrawn from the Venezuelan-led Petrocaribe oil alliance after failing to negotiate favorable rates for purchases and financing.

Guatemala joined the 18-member group in May, seeking an interest rate of below 2 percent on its deferred purchases of Venezuelan oil.

"We did not get the benefits that the country hoped for," spokeswoman Karen Cardona said.


Source: Reuters