Venezuela's international reserves in a single account
Venezuelan President Nicolás Maduro explained that funds in foreign currency belonging to the State's strategic reserve would be pooled in a single account at the Central Bank of Venezuela (BCV)
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Resources of the National Development Fund (Fonden), the Chinese Fund and other ancillary funds will be included in this new BCV account (File photo)
EL UNIVERSAL
Wednesday September 03, 2014 11:11 AM
Venezuela's President Nicolás Maduro announced on Tuesday that a single account would be opened at the Central Bank of Venezuela (BCV) in order to strengthen the management of international reserves and the country's public accounts.
Resources of the National Development Fund (Fonden), the Chinese Fund and other ancillary funds and funding mechanisms will be included in this new BCV account to strengthen strategic reserves, state-run news agency AVN underscored.
Maduro highlighted that depositing funds into a single account of international reserves in the BCV would be positive for the perception of Venezuela's capacity to meet its international commitments.
Translated by Andreína Trujillo
Resources of the National Development Fund (Fonden), the Chinese Fund and other ancillary funds and funding mechanisms will be included in this new BCV account to strengthen strategic reserves, state-run news agency AVN underscored.
Maduro highlighted that depositing funds into a single account of international reserves in the BCV would be positive for the perception of Venezuela's capacity to meet its international commitments.
Translated by Andreína Trujillo
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