July 25, 2024

Venezuela gold reserves drop to new five-decade low as withdrawals accelerate

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The Venezuelan central bank’s gold reserves dropped by about 12 tonnes in the last six months to a new 50-year low, according to its 2020 financial statements. Facing a collapse in oil production and the effects of U.S. sanctions, President Nicolas Maduro’s government has continued to use the sale of monetary gold as a source of income. By by Mayela Armas, Corina Pons, Sarah Kinosian. Full Text -> LeaderPost

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