The Bank of England has a moral & professional imperative to release Venezuela’s gold

Political Concern

Will some central banks rethink their decision to store their nations’ gold reserves with the Bank of England?

Jane Croft reports that the UN has identified Venezuela as a “priority country” in its global Covid-19 response because its healthcare system is fragile. Revenue from oil, the mainstay of its economy, has fallen and customers have been deterred by US sanctions.

“The Bank of England has a moral imperative to allow Venezuela to sell the country’s gold to allow the UNDP to effectively assist the Venezuelan population in the fight against Covid-19” (Sarosh Zaiwalla)

Venezuela’s central bank (BCV) has briefed London-based Zaiwalla & Co, to file a claim in London’s High Court. They seek a court order to transfer funds from the sale of the gold to the United Nations Development Programme (UNDP)

Its senior partner Sarosh Zaiwalla (right), a successful International arbitrator, claimed the BoE’s “foot dragging” is hampering Venezuela’s…

View original post 82 more words

About sdbast

Twitter profile @sdbast
This entry was posted in Politics. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.