Goldman to BofA Pitch Venezuela Deals to Drum Up Dollars

Goldman Sachs Group Inc. and Bank of America Corp. are among Wall Street firms that offered deals to help Venezuela obtain U.S. dollars amid a plunge in the nation’s foreign reserves.

A swap proposed by Goldman Sachs would provide $1.68 billion in cash and be backed by $1.85 billion of the central bank’s gold, documents obtained by Bloomberg News show. Bank of America said it could be an intermediary for $3 billion in payments to firms seeking U.S. dollars, documents show. Neither deal has been completed, a government official with direct knowledge of the matter said, requesting anonymity because the talks are private.