	new venezuela debt  rate goes into effect the new  rate of pct over libor on venezuelan public sector debt payments goes into effect today finance minister manuel azpurua said azpurua told reporters yesterday the reduction from the previous margin of pct above libor will save the country some mln dollars in debt servicing the new rate is among changes agreed last month to the billion dlr public sector debt rescheduling under the new agreement venezula was also able to extend the term from to years and to lower debt payments in the period by pct azpurua said that according to the agreement the new  rate will be retroactive to april provided the accord is approved before october he told reporters the term sheet detailing the changes in the rescheduling has already been endorsed by the member debt steering committee and is now being sent to the country s creditor banks for their approval the new agreement replaces a rescheduling accord signed in february which venezuela asked to revise to reflect a pct drop in oil revenues reuter 
