Venezuela pays off 27 bln USD in foreign debt, says Maduro

Venezuelan President Nicolas Maduro announced Saturday his government paid off 27 billion U.S. dollars of foreign debt in 2014 and 2015 amid damaged financial credibility.

Despite the domestic "economic war" and international "financial blockade", the government managed to pay off its debt, with 13.5 billion dollars having been paid off this year, including 5.2 billion dollars this week alone, Maduro said in a televised broadcast.

"In less than two years, we have paid back 27 billion dollars of foreign debt. But still, rating agencies and banks say that Venezuela will 'default' because they are betting on our failure," he said.

The "negative economic strategy" against Venezuela was mainly due to overseas "financial campaigns" by the local opposition, the president said, adding that "there are many entrepreneurs who go around the world campaigning that the country will not pay."

He pledged that Venezuela will continue to fulfill its financial obligations despite sharply falling prices of oil, the country's main source of revenue. Endi