The members of the Southern Common Market (Mercosur) are analyzing the possibility of Venezuela’s reincorporation into the trade bloc, taking into account the easing of sanctions against the country as well as changes in the political landscape.

In this regard, Brazil’s Vice President, Geraldo Alckmin, suggested that Venezuela’s suspension could be reviewed, “arguing that the nation is currently going through a different phase than in 2017, the year it was excluded from the organization.”

Furthermore, the group’s members are considering the restoration of relations between Venezuela, the IMF, and the World Bank.

In any case, “for Venezuela’s return to materialize, the block requires the absolute consensus of its founders. This implies a new technical evaluation of compliance with the political, customs, and human rights standards required by the organization.”

It is important to note that the analysis of Venezuela’s return to the trade bloc is taking place during a Mercosur restructuring. Furthermore, the measure has not only political implications, but also energy and commercial ones, since the return “would allow Caracas to normalize its export routes to the south and allow member countries to recover a partner with vast hydrocarbon reserves.”

M.Pino

Source: puntodecorte

(Reference image source: Isabela Kronemberger on Unsplash)

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Amid the easing of sanctions against Venezuela by the United States, the International Monetary Fund and the World Bank announced on Thursday, April 16, the reestablishment of relations with the South American country.

The decision was announced following recent licenses issued by the Office of Foreign Assets Control (OFAC), which allow Venezuela, the Central Bank, and other banking entities in the country to carry out certain transactions, potentially contributing to economic development.

The IMF “has already offered the country future access to financing instruments.” However, the interim president, Delcy Rodríguez, stated that she does not foresee a debt program at this time.

Regarding the restoration of relations, IMF Managing Director Kristalina Georgieva issued a statement indicating that the organization, “following the opinion of the majority of its members, was now dealing with the Government of Venezuela under the administration of the country’s interim president, Delcy Rodríguez.”

For its part, the World Bank Group also commented on the decision announced last Thursday. “According to the statement, its last loan was granted in 2005.”

Both organizations accelerated the measure after US President Donald Trump recognized the Rodríguez government, a strategy aimed at promoting political and economic stability in Venezuela.

M.Pino

Source: france24

(Reference image source: Markus Krisetya on Unsplash)

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La entrada World Bank and IMF reestablish relations with Venezuela apareció primero en Bitfinance.