Financial and Banking News

AID FLOWS

Mexico and Venezuela Renew San Jose Oil Accord 

Mexico and Venezuela have agreed to extend for the seventh year the San Jose accord which provides 130,000 b/d of crude oil to nine Central and South American countries at below-market prices. The official Mexican News Agency said the two countries would grant oil purchase loans for up to five years at 8% or of up to 12 years at 6%. The San Jose accord, signed in 1980, was intended to promote...