Venezuela's Guaido asks Citibank to freeze gold swap with Maduro government

Section:

By Mayela Armas
Reuters
Friday, February 15, 2019

CARACAS, Venezuela -- Advisers to Venezuelan opposition leader Juan Guaido are asking Citibank not to claim gold put up as collateral for a loan to the government of President Nicolas Maduro if his administration does not make payments on time, a lawmaker said today.

Citi would be entitled to keep the gold if cash-strapped Venezuela does not pay the loan when it expires in March, lawmaker Angel Alvarado said, without specifying the value of the gold in question.

... Dispatch continues below ...



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Allies of Guaido, who has been recognized by the United States and more than 40 countries as Venezuela's legitimate leader, is asking the bank not to invoke the guarantee.

"Citibank has been asked to stand by and not invoke the guarantee until the end of the usurpation," Alvarado said in an interview. "We don't want to lose the gold." ...

... For the remainder of the report:

https://www.reuters.com/article/us-venezuela-politics-citigroup/venezuel...

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