March 27, 2019 / 5:59 PM / 3 months ago

U.S.' Pompeo says Venezuela 'rebuilding' estimates of between $6 billion-$12 billion

U.S. Secretary of State Mike Pompeo testifies at a House Appropriations Subcommittee hearing on the State Department's budget request for 2020 in Washington, D.C., U.S. March 27, 2019. REUTERS/Erin Scott

WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo said on Wednesday he had seen estimates of between $6 billion (£4.5 billion) to $12 billion (£9.1 billion) for “rebuilding” Venezuela.

In congressional testimony on the State Department’s budget, Pompeo emphasized it would take years to rebuild Venezuela’s economy that he said was destroyed by the socialist policies of President Nicolas Maduro.

“The day and week after is going to be a long process,” Pompeo said of Venezuela’s rebuilding. “I’ve seen estimates of between $6 and $12 billion,” he added.

Reporting by Patricia Zengerle; editing by G Crosse

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