Venezuela’s Gold Reserves Tumble 25% Amid Economic Crisis
- Decline in gold reserves surpasses earlier IMF estimates
- Decline comes ahead of bond payments due later this year
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Venezuela’s international gold reserves slumped 25 percent in the first half of the year as the country’s foreign currency crisis deepens.
The holdings fell to $7.5 billion in June from $10 billion at the end of last year, according to financial statements published by the central bank this week on its website. The drop surpasses the 16 percent decline estimated by the International Monetary Fund.