— Venezuela is trading oil for food with Jamaica, in a deal that sends food, medicine and other materials to Venezuela as the country’s economic crisis grows.
Jamaica announced the deal last week, allowing the island nation to pay off its oil debt to Venezuela in exchange for about $4 million in various goods.
“You could say that it’s goods and services for oil,” said Wesley Hughes, CEO of Jamaica’s PetroCaribe Development Fund, to CNN. “It’s going to be up to Venezuela to decide what they need.”
Severe food shortages have swept Venezuela since the drop in oil prices uncovered the economic mismanagement of former President Hugo Chavez and current President Nicola Madura, who is facing likely removal from office in the next few months.
The 2005 Petro-Caribe agreement ensures all Caribbean countries will receive special rates for Venezuelan oil.
Lali, ramjam, pp, Yardie Unuh come school Mi on this here topic please and tanks.
It is a sweet sweet deal dear.we get to pay down the debt n hopefully put some of the bleachers to use.great opportunity for young ppl to now go into farming.
Agriculture is up 13% so here is an opportunity to further grow the sector! Where is all the farmers who always a bawl that nuh market nuh deh?
:ngakak :ngakak :ngakak put di bleachers Dem to work but must. Thank u Yardie.
one of the most constuctive, productive, common sense agreement I’ve seen the jamaican government facilitate in ages, this agreement should really be a benefactor to our local farmers(i hope), the jamaican government, the jamaican people(who are already debt-weary), and the people of Venezuela like yardie said I really hope it boost jamaica’s local agricultural output and help to alleviate Venezuela’s food shortage woes, also if you look at it in a long term perspective, it could also open doors for our agriculture sector where as Venezuela could be a fixed market for food export! TO HELL WITH THE ROTI & SU-SU REPUBLIC! LETS SET OUR SIGHTS FOR EXPORT IN MARKETS AND PLACE WHERE WE ARE WELCOME AND APPRECIATED!
Farming tun up. All who hab land to till guh look unno hoe. A hoes a dweet fi 2016. Elena and him mumma guh a grung…
Well said ramjam .nuff doors will open,save on $us n we help avert a humanitarian crisis inna we region
Anon a lonnnggg time Mi nuh hear dat song eno memories