Venezuela sees reserves up by 25 percent

Venezuela closed the 2005 fiscal year with foreign reserves above US$ 30.3 billion, the third highest in Latin America, according to a report authored by Aristimuo Herrera & Asociados.

Based on the document, Mexico and Brazil showed the largest foreign reserves in Latin America, amounting to USD 68.6 billion and USD 53.8 billion, respectively.

In 2005, Venezuelan foreign reserves heightened 25.2 percent, except for USD 6 billion that the Venezuelan Central Bank (BCV) transferred to the governme

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