Venezuela says IMF has not delivered COVID-19 funds amid dispute By Reuters

CARACAS (Reuters) – Venezuelan Vice President Delcy Rodriguez stated on Wednesday that the Worldwide Financial Fund (IMF) has not but delivered funds underneath a program to assist nations battle the COVID-19 pandemic, amid a dispute over the federal government’s legitimacy.

In August, the IMF licensed Venezuela to obtain round $5 billion in Particular Drawing Rights (SDR) as a part of a $650 billion international effort to spice up liquidity for the world’s most weak nations, however stated it couldn’t use them (https://www.reuters.com/world/americas/guaido-says-venezuelas-access-imf-sdrs-be-part-political-talks-2021-09-14) due to questions on whether or not President Nicolas Maduro or opposition chief Juan Guaido was the rightful chief.

Guaido, acknowledged by america and several other Latin American nations as Venezuela’s president, stated final month the 2 sides would focus on entry to the SDRs at a negotiation course of going down in Mexico Metropolis, a part of an internationally-mediated effort to resolve the nation’s protracted political disaster.

Rodriguez stated on the U.N. Convention on Commerce and Improvement that the nation had not but obtained the funds, blaming a U.S. “veto.”

The USA is the IMF’s largest shareholder.

“Venezuela reiterates its denunciation that the IMF refuses to ship our individuals the $5 billion our nation is owed to battle the pandemic,” Rodriguez stated.

Neither the IMF nor the U.S. State Division instantly responded to requests for remark. Washington has sanctioned key Venezuelan state establishments, together with the central financial institution, as a part of an effort to oust Maduro, who it accuses of election-rigging, corruption, and overseeing an financial collapse.

The IMF up to now has stated Venezuela can’t entry IMF sources because of a “lack of readability within the worldwide neighborhood relating to the popularity of the de facto authorities.”

Venezuela’s central financial institution in September reported a rise in reserves of $5.1 billion, an quantity roughly equal to the worth of the South American nation’s SDRs, however didn’t specify the funds’ origin. Its reserves totaled $11.2 billion on Tuesday, central financial institution knowledge present.