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…
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