Putin and Maduro talk about a billion-dollar loan

According to the source, two Venezuelan government representatives will arrive in Moscow to sign the agreement.

In October, Russian Finance Minister Anton Siluanov said he and his Venezuelan counterpart had generally agreed on the principles of Venezuelan debt restructuring.

The minister added that the agreement could be signed before the end of the year, reports “Sputnik International” Transmission Periscope.

On Monday, the country's president, Nicolas Maduro, said the deal with Russia was expected to be signed this week.

On November 10th, the well-known source told reporters that Russia was preparing to sign the agreement on November 15th.

Venezuela, one of the world's largest oil exporters, is suffering from the worst economic crisis in its history, exacerbated by a global decline in oil prices.

The deficit of basic goods and increasing inflation have led to massive anti-government protests across the country this year. Venezuela's debt stands at about $120 billion.

In 2011, Russia issued a $4 billion loan to Venezuela to purchase Russian industrial products. Debt had to be repaid in 2019. However, in 2014, Caracas called for expanding the terms of repayment on worsening the financial and economic situation in the country as a result of the decline in oil prices.

In September 2016, Moscow approved postponement of the deadline for atonement. /Periscopi/