In total liabilities and equity, the BCV ad hoc board reported for 2022 just over 341 million dollars. Its president, the economist Manuel Rodríguez, expressed that the two previous years had negative balances because “the only thing that was done was pay and we had not received the interest”, which was obtained in 2022 by obtaining a profit of $1.6 million
The ad hoc board of the Central Bank of Venezuela (BCV) reported, during the presentation of its 2022 report, that to date it has managed to recover just over 346.9 million dollars, between operating accounts of the issuing entity and the Citibank gold swap operation. In addition, they were received in the last year £432,000 as recovery costs for lawsuits abroad.
The economist Manuel Rodríguez, president in charge of the BCV, made the presentation in a virtual meeting to the connected deputies, who did not exceed twenty. He recalled that the almost $347 million is deposited in the Federal Reserve of the United States. of this amount $198 million has been disbursed as loans for the interim government and its various projects.
Regarding the reimbursement costs for lawsuits, Rodríguez explained that 349,000 were used to cancel debts with the Arnold & Porter law firm. In total, there remains £86,000 ($104,473 at current exchange rates) which is being held in an account in the name of the law firm for use in lawsuits.
The economist Manuel Rodríguez, president in charge of the ad hoc board of the BCV, presented the institution’s 2022 report in a virtual meeting
In total, the ad hoc BCV has authorized the spending of $206.1 million since 2020. In 2022, just over $1.6 million was returned in funds not used by the 2015 National Assembly, interim government and its chancellery, the fund in defense of democracy, humanitarian attention and the Expenditure Administration Council.
From the year 2022, $3.2 million of unused funds have already been received, the economist revealed to the media.
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In total liabilities and equity, the BCV ad hoc board reported for 2022 just over $341 million. Rodríguez said that the two previous years had negative balances because “the only thing that was done was pay and we had not received the interest,” which was obtained in 2022 by obtaining a profit of $1.6 million.
Regarding the trials abroad, he highlighted as an achievement that the administration of Nicolás Maduro has not been allowed access to the gold deposited in the Bank of England. The value of those Venezuelan reserves are calculated at $1,872 million.
In addition, he said that the ad hoc board of the BCV works “based on all the changes regarding the presentation and legal strategy before the defense of the different assets” after the dissolution of the interim government in December 2022. He indicated that he cannot do it in publicly, but he is willing to discuss it in private meetings with members of Parliament.
He also stressed that the next step is the direct approval of the institution’s budget and the joint work with the delegate commission of the AN 2015. «What remains here ahead is an important challenge and the joint and effective work between this assembly, this board and other entities.
The deputy Dinorah Figuera, president of the AN 2015, said that the political will is “transparency” in the use of funds and resources to which the parliament and the extinct interim government have accessed. She also announced the possibility to create an evaluation committee for this management report.
For her part, the board member of the issuing entity Giacoma Cuius called for strengthening communications between the ad hoc meeting of the BCV and the delegated commission regarding the protection of assets. “The board must develop, both in the litigious field and in its representation before financial institutions, they must work in functional autonomy, which is expressed in the management of its budget duly approved by the National Assembly,” she insisted.
He also mentioned that the final objective is to recompose the assets and “show the loans to the Republic and re-present them as liquid international reserves”, which implies modifying contract clauses to gradually recover resources.
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