BEIJING – China isn't offering debt relief to Venezuela but says it's confident the country can deal with the matter.
The statement Thursday from the foreign ministry came a day after Russia and Venezuela signed a deal in Moscow that envisages Venezuela will pay its $3.15 billion debt to Russia over 10 years. Venezuela, by comparison, owes China $23 billion.
Ministry spokesman Geng Shuang told reporters at a daily briefing that Beijing noted that Venezuela had promised to repay its debt and was taking action to make that happen.
Geng says China "believes that the Venezuelan government and people are capable of properly handling the debt issue" and hopes the parties involved can work out matters through consultation.
The spokesman added that China-Venezuela financing cooperation was continuing "as usual."