Bessent said late on Friday that almost $5 billion worth of Venezuela's currently frozen IMF Special Drawing Rights monetary assets could be deployed to help rebuild the country's economy.
Gov. Gavin Newsom and other state Democratic leaders had accused the president of pursuing a political vendetta after he froze federal funding for social services programs.
California Gov. Gavin Newsom left the unenviable task of detailing a budget that has an estimated $3 billion shortfall — and could grow to $22 billion the following year — to his finance director.
