Venezuela Pays $30 million to Dairy Farmers in Uruguay

Venezuela has just made a significant payment to Uruguay as compensation for food imports owed to dairy farmers in Uruguay. The payment was for $30 million, which represents only thirty percent of the $100 million owed. However, President Nicolas Maduro of Venezuela believes that this payment is a good step towards paying the outstanding balance for food imports from Uruguay which has arisen under a food import deal..
Venezuela has been struggling financially as its country has not been investing in their infrastructure including both energy and food production.
The country imports a significant amount of food from Uruguay, of which a significate amount comes from dairy producer and exporter Conaprole, located in Uruguay. The payment of $30 million will go towards small dairy producers, per Enzo Benech, a government official in Uruguay.
In addition to these $100 million announced, Venezuela owes $267 million to Uruguay under a multimillion dollar food import deal but has only deposited a fifth of the total today. The $30 million payment noted above therefore represents a good faith payment against the total balance, which has helped to improve relations between the two neighboring countries. News courtesy of Facebok.

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