Vice President Delcy Rodríguez would have delivered a letter from the Executive to the IMF, in which changes in the country’s political situation are proposed.
The President of the Republic, Nicolás Maduro, would have insisted before the directive and the member governments of the International Monetary Fund (IMF) that the legitimacy of his government be recognized, which would have as a first consequence access to 5 thousand 100 million dollars in Special Drawing Rights (SDR).
Venezuela would be entitled to receive these funds as part of the aid package that the IMF approved, in the midst of the covid-19 pandemic, to strengthen the balances of payment of its member states, at a time of recession.
The Executive Vice President of Venezuela, Delcy Rodríguez, reportedly sent a letter to the Managing Director of the IMF, Kristalina Georgieva, as well as to the finance ministers of the 190 member countries of the institution, raising the changes in the political situation in Venezuela, since that even the United States has been negotiating with the government of Nicolás Maduro for the release of detainees and a possible agreement to reactivate the oil production of Chevron Corp.
The Venezuelan government’s request was made prior to the meeting that global policymakers will have at the annual meeting with the International Monetary Fund and the World Bank.
Venezuela lost interaction with the IMF in February 2019, following several countries, including the United States, recognized Juan Guaidó as interim president of the nation of Cristóbal, reported Bloomberg.
Former President Hugo Chávez even announced the withdrawal of Venezuela from the International Monetary Fund, but in the end the process did not advance.
Despite this, relations with the multilateral organization have been tense, to the point that the institution must resort to independent analysts to formulate scenarios for the Venezuelan economy, since it does not receive official information, except when the national government is under pressure.
Therefore, this official rapprochement, if confirmed, would be a relevant step in changing the economic strategy of the Maduro administration.
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