Main points:
  • Chávez ordered repatriation of 85% of Venezuela’s bullion reserves
  • This is 160 tons, valued at $11bn
  • First shipment comes from European banks
  • Scores anti-imperial points with the president of central bank saying, “we’re returning the gold they took out of our country in the past”
  • Chávez had also cited Brazil, Russia, and China as more “solid” than the “sinking” United States and Europe
  • Critics say that Chávez is acting out of fear that Venezuela’s oversea assets could be frozen
Further Reading

BBC: Chavez repatriates Venezuela’s foreign gold reserves

AJC: Venezuela receives first gold shipment from Europe

Latin American Herald Tribune: Venezuela Repatriates $11 Billion in Gold Reserves

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