IMF chief says the fund is ready to aid Venezuela but needs major shareholders to recognise its leadership and for authorities to request help.
KYIV: International Monetary Fund Managing Director Kristalina Georgieva said the IMF is prepared to support Venezuela but requires approval from its major shareholders.
Georgieva stated that the fund needs those shareholders to recognise the country’s leadership and for Venezuelan authorities to formally seek assistance.
She made the comments in an interview with Reuters during a visit to Ukraine.
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The IMF has had almost no communication with the regime of ousted President Nicolas Maduro since 2019.
Georgieva said the fund has nevertheless kept “a watchful eye on the economy” in Venezuela to assess its trajectory.
“So we have a good understanding, and we are ready,” she said.
“If there is an opportunity to support the people of Venezuela, you can be sure the Fund will be there.”
She expressed concern that 8 million Venezuelans have fled the country in recent years.
This represents a greater portion of the population than Ukraine’s outward migration due to Russia’s invasion.
The exodus has dramatically shrunk Venezuela’s economy.
“Inflation is picking up,” Georgieva warned.
“We worry about hyperinflation re-emerging in Venezuela.” – Reuters
