IMF's Georgieva, Venezuelan acting president discuss use of SDRs for earthquake needs
- On Thursday, Managing Director Kristalina Georgieva spoke to Acting President Delcy Rodriguez about using Venezuela's $350 million reserve tranche to address urgent humanitarian needs from twin earthquakes.
- The June 24 quakes killed more than 3,800 people, injured nearly 17,000, and left nearly 18,000 homeless, creating the humanitarian crisis that prompted IMF engagement with Venezuelan officials.
- IMF spokesperson Julie Kozack clarified the reserve fund is "basically its readily available claim from its paid-in reserve assets," distinct from Venezuela's $4.5 billion SDR allocation.
- Rodriguez said last week that Venezuela is creating a $200 million reconstruction fund with the IMF, with money going to contractors to rebuild lost homes.
- Despite re-engaging since former President Nicolas Maduro was ousted in January, Venezuela remains ineligible for IMF loan programs without restructuring nearly $200 billion in debt.
27 Articles
27 Articles
Venezuela initiated talks with the International Monetary Fund (IMF) to obtain rapid access to financial resources to address the emergency caused by the recent earthquakes in the country.Delcy Rodríguez held a dialogue with Kristalina Georgieva, managing director of the agency, to request the immediate use of reserves and other financial instruments to support national reconstruction.Speech Julie Kozack confirmed that both sides are discussing …
Venezuela accelerated its efforts with the IMF to obtain liquidity following the earthquakes that struck the country.
EFE The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, spoke this week with Delcy Rodríguez, so that the country can access some of its assets held by the international organization to deal with the emergency of the devastating earthquakes. “They addressed the use of Venezuela’s reserve section in the IMF, which is an important and easily accessible source of liquidity that can be mobilised quickly,” explained …
Venezuela and the International Monetary Fund (IMF) negotiate how to unblock the country’s financial assets as quickly as possible to deal with the consequences of the earthquakes, said the agency’s spokesman, Julie Kozack. Delcy Rodríguez’s government has launched a campaign to unblock funds held in several countries after the earthquakes. In the case of the IMF, the interim president had a telephone conversation with the managing director of t…
The managing director of the IMF spoke with the interim president of Venezuela so that the country can access some of its retained assets to face the emergency of the devastating earthquakes.
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