Venezuela to lose up to £1.2BILLION gold reserve to US bank as Maduro fails to pay debt

Self-proclaimed president Juan Guaido pleaded with Citibank for a 120 day delay of the repurchase of the gold, put up as collateral for a loan asked by Nicolas Maduro in 2015. Mr Guaido’s advisers met with Citibank officials in a desperate bid to avoid the finance giant claiming the Venezuelan gold. Upon asking for the loan, the socialist president had previously said his government would give up to the bullion if it failed to pay off the loan by its due date in March, three members of the team advising Guaido said.