IMF says it is restoring relations with Venezuela
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The International Monetary Fund (IMF) has restored relations with Venezuela, paving the way for potential financial support to the economically struggling nation. The move follows a shift in the IMF's recognition of Venezuela's government, now led by acting President Delcy Rodriguez.
The International Monetary Fund (IMF) has restored relations with Venezuela, a country that has been economically embattled. The IMF's decision was guided by the views of its members representing a majority of the institution's total voting power. The move allows the IMF to begin formal economic data-gathering and potentially offer financial support to the government if requested. The World Bank is expected to follow, potentially opening new lines of credit for Venezuela. Relations between the IMF and Venezuela broke down in 2019 when the IMF recognized the country's opposition as the legitimate government. The shift in recognition now acknowledges the government under acting President Delcy Rodriguez.
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