Venezuela Seeks $4.4B Gold from Bank of England for Earthquake Reconstruction
Venezuela's ruling party and its opponents have agreed to work together to recover $4.4 billion worth of gold stored at the Bank of England, a significant step towards rebuilding after recent earthquakes.
The gold, estimated to be around 31 metric tons, has been inaccessible since 2018 due to a dispute over which government had authority over Venezuela's overseas assets. The UK has recognized opposition leader Juan Guaidó as interim president, not Nicolás Maduro.
Authorities aim to retrieve the gold and allocate its value towards earthquake reconstruction efforts. Interim President Delcy Rodríguez made an appeal to King Charles last month for the gold's release, while opposition figures have insisted on transparency provisions to ensure funds are used correctly.