Venezuela's central bank under threat from Chavez

- Central Banking staff
- 12 Oct 2004

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Venezuela's President Hugo Chavez has repeated threats to the central bank that if it doesn't allow him to use part of its international reserves to fund his social programs for the poor, he will get a Supreme Court order to force it.

Chavez has asked the central bank to give him US$1 billion (euro810 million) from the international reserves, which have increased steeply this year following record oil prices.

"People of the Central Bank: If we have to go to the Supreme Court to get the last cent

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