Venezuela’s president is also unlikely to endear himself to Washington after saying that he has sold $20 billion of foreign reserves, mostly in US treasuries, over the past four months and deposited the funds at the Bank for International Settlements in Basle. A central bank director admitted that Venezuela had sold some of its holdings of treasuries, citing financial reasons. Some analysts, though, reckon the move was motivated more by political reasons.
November 01, 2005
