Venezuela's Chavez plans $5 bn reserves spend

Venezuelan President Hugo Chavez said in a TV broadcast that he plans to take an additional $5 billion in reserves from the central bank next year in order to boost spending on various projects.

The reserves will be used for ``direct, productive investments,'' Chavez, 51, said during his weekly television broadcast.

Venezuela's congress approved using central bank reserves in July, a move which created a special fund to finance infrastructure projects.

Chavez said he plans to boost spending on

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: