Venezuela Seeks to Recover $4 Billion in Stashed Gold from Bank of England
Venezuela's National Assembly chief Jorge Rodriguez announced plans to focus on reconstruction efforts and recovering gold reserves worth an estimated $4 billion held in the Bank of England's vaults. The move comes as monthly inflation surged to 20%.
The Bank of England has refused to release some 31 metric tons of Venezuelan gold, citing a lack of recognition for President Nicolas Maduro's government. This decision has been the subject of a long-running legal battle in British courts.
Rodriguez stated that the government and lawmakers had agreed to prioritize projects aimed at rebuilding households, health capacities, electricity availability, and clearing rubble, and to this end, 'concentrate efforts to promote the recovery of Venezuela's international assets in the Bank of England.'