The International Monetary Fund (IMF) announced on Thursday the restoration of its relationship with Venezuela, which had been suspended since 2019.
“The Managing Director, Kristalina Georgieva, announced today that the International Monetary Fund is now engaging with the Venezuelan government, under the interim presidency of Delcy Rodriguez,” said the Fund in a statement.
This information was confirmed by the interim president: “We have restored Venezuela’s representation within this international organization” and “we are normalizing all processes involving Venezuela’s rights with the institution.”
The restoration of relations paves the way for the possibility of providing financial support to Venezuela, should the government request it.
A restoration of relations following the overthrow of Maduro
The IMF has been including Venezuela in the data published about the American continent in recent years, but their bilateral relations were suspended in 2019, when the Fund recognized the opposition, which then controlled the Venezuelan parliament, as the legitimate government.
The overthrow of President Nicolas Maduro during a US military operation earlier this year had already prompted the Fund to begin consultations with its members to determine the next steps.
The World Bank may follow suit with the IMF, opening up new lines of credit for this economically crippled country.
