World Bank delegation visits Venezuela after relations restored with Caracas
The delegation discussed technical assistance and possible financial support after relations resumed, with both sides saying they would define concrete areas of cooperation.
- Susana Cordeiro Guerra, the World Bank's vice president for Latin America and the Caribbean, led a delegation to Venezuela this week, meeting Friday with interim leader Delcy Rodriguez and her economic team.
- Relations between Caracas, the World Bank, and the International Monetary Fund had been frozen since 2019, but their April renewal has opened the door to potential financial support for Venezuela.
- Both sides "agreed to continue working together to define concrete areas of technical collaboration for the benefit of the economic and social development of the Venezuelan people," the World Bank added. Discussions explored technical assistance opportunities.
- Increased exchanges between global financial institutions and Venezuelan leaders could reassure investors hesitant to commit funds to the fledgling government. This engagement marks a departure from Venezuela's previous isolation.
- Washington has lifted a large number of sanctions targeting Caracas, and direct flights between the two countries are progressively resuming. The United States continues pressuring the government to open its flailing economy to foreign investment, particularly in energy.
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Caracas. The president in charge, Delcy Rodríguez, met yesterday with a delegation from the World Bank (BM) headed by the vice president for Latin America and the Caribbean of the multilateral body, Susana Cordeiro Guerra.
Venezuela and World Bank agree to define technical cooperation areas after seven-year pause
The Venezuelan government and the World Bank agreed on Friday in Caracas to work jointly on identifying concrete areas of technical cooperation, in the first high-level encounter between the two parties since the resumption of relations announced last month, which ended a seven-year pause in institutional contacts. The meeting was led by acting President Delcy Rodríguez, who received at the Miraflores Palace the World Bank's Vice President for La
Delcy Rodríguez pointed out that Venezuela does not plan to access the IMF's debt program and hopes to recover its special drawing rights blocked in that agency since 2019.
A delegation from the World Bank will soon visit Caracas to hold meetings with authorities of the interim government of Delcy Rodríguez, in which it will be the first official visit of the agency to Venezuela after the resumption of relations last month. According to sources cited by the portal specialized in economics Bloomberg, the trip will be led by Susana Cordeiro Guerra, vice president of the World Bank for Latin America and the Caribbean.…
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