US EditionIMF, World Bank say they are resuming dealings with Venezuela
The lenders will begin economic assessments and could eventually unlock billions in funding, officials said.
- On Thursday, the International Monetary Fund and the World Bank announced they resumed formal dealings with Venezuela under interim President Delcy Rodriguez, ending a seven-year pause.
- The Washington-based financial institutions severed ties with Caracas in 2019 amid leadership disputes, but resumed engagement after President Donald Trump's administration ousted President Nicolas Maduro in January.
- This restoration allows for a full economic assessment for the first time in some 20 years and could unlock $5 billion in frozen special drawing rights.
- Interim President Delcy Rodriguez praised the move as a "very important step for the Venezuelan economy," noting recent agreements with Chevron to increase crude oil production.
- Investors have bet heavily on Venezuelan bonds, with about $60 billion in defaulted debt outstanding, hoping this institutional recognition will enable necessary restructuring.
110 Articles
110 Articles
IMF, World Bank Resume Contact With Venezuela In Further Recognition Of Interim Government
The International Monetary Fund (IMF) and the World Bank announced they resumed engagement with Venezuela, a development that could pave the way for the country to receive international funding the
IMF, World Bank renew Venezuela ties after 6-year rupture
The IMF and the World Bank said they would resume relations with Venezuela for the first time in six years, a major breakthrough for the Latin American country as it looks to rebuild its economy. The resumption of relations comes just months after Washington ousted Venezuela’s former president and replaced him with a more pliant leader, and could unlock billions of dollars in financing for Caracas, analysts said. While Venezuelans have become mo…
IMF Announces Resumption of Dealings with Venezuela After Seven-year Pause
Get latest articles and stories on World at LatestLY. The International Monetary Fund (IMF) has announced that it is resuming its dealings with Venezuela, under its interim leadership, ending a suspension that had been in place for the past seven years due to government recognition issues. World News | IMF Announces Resumption of Dealings with Venezuela After Seven-year Pause.
The replacement of Laura Guerra comes after the capture of Nicolás Maduro by the US and the resumption of relations with the World Bank and the IMF.
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