International Monetary Fund (IMF) announces resumption of dealings with Venezuela after seven-year pause

WASHINGTON DC: The International Monetary Fund (IMF) has announced that it is resuming its dealings with Venezuela, under its interim leadership, ending a suspension that had been in place for the past seven years due to government recognition issues.

In a statement issued on Thursday, IMF Managing Director Kristalina Georgieva said the decision follows the views of IMF members representing a majority of the Fund’s total voting power and is consistent with long-standing institutional practice. The Fund said it is now engaging with the Government of Venezuela for the first time since March 2019, under the administration of acting President Delcy Rodriguez.

“Guided by the views of International Monetary Fund (IMF) members representing a majority of the IMF’s total voting power, and consistent with long-standing practice, the Managing Director Kristalina Georgieva today announced that the IMF is now dealing with the Government of Venezuela, under the administration of acting President Delcy Rodriguez. Venezuela has been a member of the IMF since December 1946. Dealings with Venezuela had been paused in March 2019, due to government recognition issues,” the statement read.

The move marks a significant shift in the IMF’s approach to Venezuela, which has been largely cut off from formal Fund engagement in recent years due to political uncertainty and competing claims over leadership recognition. Georgieva, in a post on X, welcomed the IMF’s decision to resume dealings with Venezuela, describing it as an important step aimed at ultimately benefiting the Venezuelan people. “I welcome the decision to resume IMF dealings with Venezuela. This important step, guided by the views of our members, allows the Fund to re-engage in a way that can ultimately benefit the Venezuelan people,” her post read. (ANI)

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