Venezuela in gold swap with Citi | Financial Times

by Faiz Ahmed last modified 2015-05-11T13:19:58-04:00
A skilful move by Venezuela. It'll allow the government to continue re-structuring the economy as well as continue funding its social projects domestically and abroad.

"Venezuela has the world’s largest oil reserves but its economy is forecast to shrink by 7 per cent this year while inflation is expected to top 150 per cent, fuelled by printing money to fund a fiscal deficit estimated at 20 per cent of gross domestic product. ... At almost 377 tonnes, Venezuela has the world’s 16th-biggest gold reserves, according to the World Gold Council." Full story here.
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