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Venezuela is considering the transfer of reserves from Europe and America to China and other countries
18/08/2011
Caracas - Reuters
Said opposition lawmaker, the Venezuelan parliament on Wednesday that President Hugo Chavez may turn billion of international reserves from Europe and the United States to banks in countries such as China, Russia and Brazil. He said Julio Montoya in a television interview that he had obtained the documents bear the signature of the Minister of Finance of Venezuela and President of the Central Bank reveals plans to convert the cash, estimated at about $ 6 billion to the countries of emerging economies that take positions more friendly policies of Chavez's socialism. said Montoya, the initiative also includes a transfer of reserves of gold worth $ 11 billion from several banks abroad to the Central Bank of Venezuela. He added that Chavez did not adopt the plan and demanded an explanation of what critics called the idea of reckless and analysts.
Said Montoya, «is not the owner of the international reserves in gold or dollars Venezuela». In comments made recently spoke Chavez to end the «dictatorship of the dollar» and the need for a cash alternative. In spite of the shaky global confidence in the American economy, most countries are still considered the dollar reserve currency more secure. Montoya said that the opposition believes that China and other countries asked for transfer of reserves to guarantee huge loans granted to Chavez over the years. There was no comment from the Venezuelan government to the allegations of Montoya.
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