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Panama concerned over Venezuelan debt

Tuesday, November 5, 2013

Panama’s Colon Free Trade Zone, the second-busiest port in the world, is concerned over Venezuela's debt, as well as Colombia’s recent tariff increase.

Venezuelan businesses owe an estimated $700 million to their Panamanian suppliers, and Venezuela accounts for 30 percent of the port's total business.

Combined, Venezuelan and Colombian transactions add up to $5 billion in the last three years, but there are no solutions in sight for both issues.

Source: International Business Times