Venezuela wants to sell their gold

Venezuela’s economy is facing significant problems before the coronavirus pandemic. But the new virus exacerbates the situation. Now the government is apparently considering selling the country’s gold reserves.Venezuela has, according to insiders, asked the Bank of England to sell part of its gold reserves and send the money to the UN to fight the coronavirus epidemic. The Reuters news agency did not initially know how much gold the government wanted to sell in Caracas from the two people familiar with the situation.The United Nations Development Program (UNDP) said it had “recently been raised” to explore ways to use the Venezuelan National Bank’s overseas resources to fund measures against the pandemic.


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The Venezuelan authorities did not comment. The Bank of England declined to comment.Venezuela has deposited 31 tons of gold with the British central bank with a market value of approximately $ 1.7 billion. The Bank of England refuses to hand over the reserves to the government of President Nicolas Maduro, who the British government does not recognize as head of state after a controversial 2018 election. Critics accuse Maduro of running down the country. The country’s economy is suffering from low oil prices, US sanctions and measures to combat the pandemic.