BCV director says reserves will rebound

Jose Felix Rivas Alvarado, director of the Central Bank of Venezuela (BCV), told the official news agency Friday 11 May that although Venezuela's international reserves fell during the last few months, the fall is attributable to specific factors.

He said transfers to the National Development Fund (Fonden) and the payment of bond issues, particularly that of state-run oil firm Pdvsa had contributed to a decline in foreign reserves.

Rivas told the official news agency that "logically, both facto