Monday, 12.11.2018 05:00 (GMT + 7)
The Venezuelan government is claiming back 15 tonnes of gold base in the vaults of the British bank, worth more than $ 500 million.
The deepening economic crisis in Venezuela prompted the country's government to seek back $ 500 million worth of gold reserves. This move seems to bring the recently announced US policy that made President Nicolas Maduro difficult to handle borrowing on the international market. The Trump administration issued a sanction on Thursday that prohibited US citizens from dealing with all the "corrupt or fraudulent" people in Venezuela.
The Venezuelan authorities have approached and exchanged with the Bank of England about about 15 tonnes of gold in the country. Emerging markets such as Venezuela, gold reserves in the developed countries' central bank have become a safe asylum financially.
Venezuela wants to return $ 550 million from the Bank of England
The state government has been planning a gold recovery for nearly two months, but such a large-scale transmission has been difficult to convince. In addition, the Bank of England aims to clarify the use of Venezuela with this amount of gold. However, the Venezuelan central bank and the Bank of England have refused to comment.
In recent years, Venezuela has become the world's largest seller. Only this year, over 24 million tons of gold worth nearly $ 900 million are sold to Venezuela Venezuela.
But over the last four years Venezuela's gold reserves have fallen from a record 400 tonnes to around 175 tonnes. Venezuela sold a large number of gold reserves with President Hugo Chavez trying to solve the economic crisis that caused the country's economy. Harassing commodities has left many Venetians unable to reserve daily housekeeping supplies. Poverty and violence have spread all over the country.
The International Monetary Fund report in July said Venezuela's inflation rises to a massive 1 000 000.
Looks like a myth, but this is a real story to save inflation in this country.