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Venezuela Seeks Frozen Funds and Bank of England Gold to Pay for Quake Relief

Interim authorities say unlocking the reserves is needed to buy heavy equipment, hire medical teams, run vaccination drives, staff emergency shelters.

Overview

  • A double earthquake on June 24 with magnitudes near 7.2 and 7.5 devastated coastal cities, leaving about 3,889 dead, more than 16,700 injured and roughly 18,000 homeless.
  • Search-and-rescue teams were quickly overwhelmed, heavy machinery was scarce and neighbours dug by hand until Mexican crews brought excavators on the eighth day.
  • Satellite analysis and ground footage show at least 343 buildings collapsed in 'pancake' fashion, a failure survivors and experts link to poor construction and corruption.
  • Interim President Delcy Rodríguez has formally asked the IMF to release frozen resources and sent a letter requesting return of roughly 31 tonnes of Venezuelan gold held by the Bank of England, which has been tied up in long-running litigation.
  • PAHO/WHO warn damaged health services, crowded shelters, broken water and sanitation and limited vaccine access raise the risk of disease outbreaks, and delays in freeing foreign assets could slow delivery of heavy equipment and medical aid.