June 22, 2007
President Chávez admits reserves currency changes from weak dollar to other currencies

(VHeadline.com News) - "During the 13th round of business and state purchases, President Chávez has confirmed that some of Venezuela's national reserves have been changed from dollars to other currencies because the dollar is losing strength.

The measure, Chávez states, is to product Venezuela's interests vis-a-vis a failing currency and the emergence of stronger currencies, such as the euro.

The government has no intention of excluding the private sector, Chávez comments, and on the contrary, wants to work with it on the condition that 'we develop new models of working together.' (...)

Speaking about Venezuela as a natural gas power, Chávez has made it clear that he is determined to make Venezuela a world gas power because of Venezuela's large reserves.

'As you know we are accelerating our gas project, following its rhythms of course... in the measure we advance on the Deltana platform in eastern Venezuela, there will be plenty of gas that many of the great countries of the world want', he said".