Patricia Laya, Bloomberg Published 11:49 am PDT, Tuesday, June 4, 2019 Venezuelan President Nicolas Maduro speaks as he touches a stack of 12 Kilogram gold ingots in Caracas. Venezuelan President Nicolas Maduro speaks as he touches a stack of 12 Kilogram gold ingots in Caracas. Photo: Bloomberg Photo By Carlos Becerra Photo: Bloomberg Photo By Carlos Becerra Image 1 of / 1 Caption Close Image 1 of 1 Venezuelan President Nicolas Maduro speaks as he touches a stack of 12 Kilogram gold ingots in Caracas. Venezuelan President Nicolas Maduro speaks as he touches a stack of 12 Kilogram gold ingots in Caracas. Photo: Bloomberg Photo By Carlos Becerra Venezuela defaults on gold swap with Deutsche Bank 1 / 1 Back to Gallery Venezuela has defaulted on a gold swap agreement valued at $750 million with Deutsche Bank AG, prompting the lender to take control of the precious metal which was used as collateral and close out the contract, according to two people with direct knowledge of the matter. As part of a financing agreement signed in 2016, Venezuela received a cash loan from Deutsche Bank and put up 20 tons of gold as collateral. The agreement, which was set to expire… Read full this story
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