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Guatemala Withdraws from Petrocaribe Oil Alliance

Guatemala has withdrawn from the Venezuelan-led Petrocaribe oil alliance after the Central American nation failed to negotiate favorable rates for purchases and financing, a vice-presidential spokesperson said on Monday. Guatemala joined the 18-member group in May, seeking an interest rate of below 2 percent on its deferred purchases of Venezuelan oil. “We did not get the benefits that the country hoped for,” spokeswoman Karen Cardona said. Venezuela's late president, Hugo ...

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