Chavez Says Venezuela To Use $12 Bln Reserves

OPEC member-nation Venezuela's income has been hard hit by a collapse in oil prices in recent months

Venezuela's President Hugo Chavez said on Friday the Central Bank will move $12 billion from foreign reserves to fund the government.

OPEC member-nation Venezuela's income has been hard hit by a collapse in oil prices in recent months but the government says it has enough cash in reserves and other funds to cover a shortfall in its 2009 budget.