IMF and World Bank Resume Relations with Venezuela

Economy

IMF and World Bank Resume Relations with Venezuela

3 minutes ago

News sources:

SCMP

REUTERS

LEMONDE

ALJAZEERA

IMF and World Bank Resume Relations with Venezuela

Credited from: REUTERS

The IMF and World Bank have restored relations with Venezuela after a six-year hiatus.
Acting President Delcy Rodriguez welcomed the announcements as a major diplomatic achievement.
This decision may open up new avenues for financial support for Venezuela's struggling economy.

The International Monetary Fund (IMF) and World Bank announced on April 16 that they are officially resuming ties with Venezuela, a move seen as legitimizing the interim government under Delcy Rodriguez. This decision comes after a break in relations dating back to 2019, when the international community was divided over recognizing either the Maduro government or the opposition led by Juan Guaido. The announcement emphasizes the IMF’s commitment to re-engage with the Venezuelan government through economic data-gathering and potential support if requested, according to SCMP, Reuters, Le Monde, and Al Jazeera.

This crucial step enables both institutions to develop formal economic relations while aiming to address Venezuela’s acute financial crises. The IMF's Managing Director Kristalina Georgieva noted that this decision is based on a majority view from its members, allowing the fund to re-engage effectively. Rodriguez herself called this a "great achievement" for Venezuelan diplomacy, reflecting a significant shift in the country’s economic outlook, according to SCMP, Reuters, and Le Monde.

Reuters and Al Jazeera.