FT, citing four people, reports Venezuela’s government and opposition are close
to an agreement to transfer about $4 billion of central bank gold held at the
Bank of England to the Federal Reserve Bank of New York. Under discussed terms,
the interim government led by acting president Rodríguez would gain legal
control but could not immediately sell the bullion; it could be pledged as
collateral to secure government borrowing to fund spending, including
reconstruction after June’s twin earthquakes. The US-backed deal is not final
and technical details may take time to resolve.
