if already posted I apologize:

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Sanz: Venezuela could issue this year gold-backed bonds
Written by Editor
sábado, 03 de abril de 2010

Minister of Basic Industries and Mining, Rodolfo Sanz, Venezuela reaffirmed that this year could issue bonds backed in gold.
"We are working, preparing, studying with the Central Bank the possibility of issuing gold-backed bonds."

"If we do, it would be this year," Sanz added, without elaborating.

Nelson Merentes, president of the BCV, reported a month ago that the issuer assessed the possibility of developing this type of financial instruments, but clarified that it was not a new format to implement it any time soon.

"The strategy is basically to deliver tools that would be exchanged for dollars, euros or the equivalent in foreign currency. They would be guaranteed in the production of gold reserves of Venezuela," said Merentes.

In early March, José Khan, director of the Central Bank of Venezuela, stated that to get the gold market bonds announced by President Nelson Merentes BCV, it was necessary to have sufficient reserves and that "this could happen end of year. "

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