Chavez suggests payments in kind
Venezuelan President Hugo Chavez suggested at a regional summit in Cienfuegos, Cuba, that more of his neighbors could pay for cheap oil with goods or services in lieu of cash.
Chavez said his plan to provide low-cost oil to the region should go beyond financing mechanisms. He offered other countries the option of following the model of Cuba, which repays by sending doctors who offer free services to the poor in Venezuela.
The option has been available but it is unclear how many countries other than Cuba have used it. Chavez said Venezuela is owed more than $1 billion for its crude.
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