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Citigroup to sell Venezuelan gold in setback to President Maduro: sources
Maduro's government has since 2014 used financial operations known as gold swaps to use its international reserves to gain access to cash after a slump in oil revenues left it struggling to obtain hard currency. Under the terms of the 2015 deal with Citigroup's Citibank, Venezuela was due to repay $1.1 billion of the loan on March 11, according to four sources familiar with the situation. Citibank plans to sell the gold held as a guarantee - which has a market value of roughly $1.358 billion - to recover the first tranche of the loan and will deposit the excess of roughly $258 million in a bank account in New York, two of the sources said.
Wed, 20 Mar 2019 20:37:31 -0400
Some Pickups Lag in Passenger Crash Protection
Crash Tests Show Some Pickup Trucks Lag in Passenger Protection Most pickup trucks fall short when it comes to protecting passengers in certain types of crashes, according to new findings from t...
Thu, 21 Mar 2019 00:01:01 -0400
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