Guyana is not currently considering a barter arrangement with Venezuela for fuel under the PetroCaribe agreement. It is currently paying cash for 60% of the fuel it receives. Payment for the remainder, supplied under concessionary terms, will start in another 18 months.
According to Prime Minister Sam Hinds, Guyana is expected to start paying for the portion of fuel being supplied on concessionary terms, at 2% interest, in another 18 months. Guyana was given a two-year grace period to start paying for the fuel in instalments over a 20-year period.
Asked on Friday whether Guyana would consider President Hugo Ch