The Venezuelan government and opposition are close to an agreement to transfer the central bank’s gold reserves, worth about $4 billion, from the Bank of England to the Federal Reserve Bank of New York, the Financial Times reported on Friday.
Reuters said it could not immediately verify the report, which cited four people familiar with the discussions.
Under the proposed agreement, the interim government of Delcy Rodriguez would gain legal control of the gold but would not be able to sell the holdings immediately, according to the FT.
Instead, the reserves could be used as collateral for government borrowing, including to fund reconstruction following June’s twin earthquakes, the newspaper reported.
by Reuters – Venezuela nears deal to move $4 billion in gold reserves to New York: Report
