The Central Bank announced yesterday that the Venezuelan Investment Fund (FIV) has agreed to a delay in Dominican repayment of loans due the Fund. The DR originally was scheduled to repay US$20.6 million to the Fund in October. The Fund has agreed to give the DR another five years to repay the debt, with the first payment of principal not due until October 30, 2000. Interest payments will resume in April 1999. The Bank also said that the Government of Canada has forgiven US$1 million in bilateral debt, and the Government of Spain has forgiven unpaid interest due on bilateral debt since September. Spain has also offered a new interest-free line of credit of US$25-30 million, with a thirteen-year grace period.
