World Bank and IMF reestablish relations with Venezuela
On Thursday, April 16, news broke of the reestablishment of relations between the World Bank, the IMF, and the Venezuelan government, seen as a path to economic recovery and financing
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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