Venezuela central bank against reserves plan

Venezuela's central bank has again repeated its opposition to President Hugo Chavez's plan to deprive the bank of its autonomy and take $7 billion of international reserves to fund projects and social programs.

Armando Leon, one of seven central bank directors, suggested the government establish a fund of excess oil revenue rather than demand reserves for spending, a move that he said would undermine the value of the bolivar.

``The central bank has to have autonomy,'' Leon said in an interview

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