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U.N. willing to take Venezuelan gold from Bank of England for food, medical relief
Venezuela Reaches Deal with U.N. to Buy Food, Medicine with Gold Held at Bank of England
By Deisy Buitrago
Reuters
Wednesday, May 27, 2020
CARACAS -- Venezuela has reached a deal with the U.N. Development Programme to direct part of its gold in Bank of England accounts toward the purchase of food and medicine during the coronavirus pandemic, its central bank governor said today.
The deal comes after Venezuela's central bank made a legal claim to try to force the Bank of England to hand over part of the 31 tonnes of gold in accounts belonging to the government of President Nicolas Maduro, whom Britain does not recognize as Venezuela's legitimate leader due to allegations he rigged his 2018 re-election.
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Central bank Governor Calixto Ortega told Reuters that under the arrangement, the UNDP would receive the funds directly, a move meant to assuage concerns about potential corruption.
"It's not my word. It's not me saying that I am going to buy food, medicine, and medical equipment," Ortega said in an interview in his downtown Caracas office. "It's the United Nations who is saying that. They are not going to be involved in anything dark that is not neutral and independent."
Any program would still require the Bank of England to release the gold. The Bank of England declined to comment. ...
... For the remainder of the report:
https://www.reuters.com/article/us-venezuela-politics-centralbank-exclus...
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