The IMF has re-established relations with Venezuela. Caracas “is continuing its efforts toward diplomatic normalization,” notes El País. Relations between the IMF and Caracas were severed in 2019 after the Fund recognized the opposition which then considered the Venezuelan Parliament as the legitimate government. The re-establishment of their relationship opens the door to the possibility of offering financial support to Venezuela, should the government request it. The World Bank could follow the IMF’s lead, opening new lines of credit for this economically devastated country concludes El País.
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The IMF has re-established relations with Venezuela. Caracas “is continuing its efforts toward diplomatic normalization,” notes El País. Relations between the IMF and Caracas were severed in 2019 after the Fund recognized the opposition which then considered the Venezuelan Parliament as the legitimate government. The re-establishment of their relationship opens the door to the possibility of offering financial support to Venezuela, should the government request it. The World Bank could follow the IMF’s lead, opening new lines of credit for this economically devastated country concludes El País.