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

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

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Chris Powell

GATA

Published : February 03rd, 2021

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	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. 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-...oup/venezuel... *** * ***

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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