Venezuela authorizes up to 30 billion bolivars in additional public credit

It was published in the Official Gazette No. 39,970 circulating today, the Special Law of Indebtedness Supplemental Fiscal 2012.

It was published in the Official Gazette No. 39,970 circulating today, the Special Law of Indebtedness Supplemental Fiscal 2012.
Through this Act, authorizing the Executive, through the Ministry of the People with expertise in planning and finance, during the Fiscal Year 2012, run the hiring of public credit transactions above the maximum annual debt for Fiscal Year 2012, for the payment of pensions to more than two million beneficiaries and beneficiaries, and the partial payment of the liabilities arising from social benefits to workers in the public sector, implemented by intermediary bodies or entities that make the public sector, in accordance with the provisions of the Annual Budget Act for Fiscal Year 2012, up to the amount of THIRTY billion bolivars (Bs 30,000,000,000.00) or its equivalent in foreign currency at the official exchange rate according to the rules, registration set out in Article 16 of the Special Act Indebtedness for Fiscal Year 2012. Read Article