The IMF assures that they can initiate contacts with Venezuela if Caracas requires it
The International Monetary Fund (IMF) indicated this Thursday that it is in a process of 'gathering information' to see how best to restart contacts with Venezuelan authorities, but recalled that new relations must come at the request of Caracas. In a press conference, the Fund's spokesperson, Julie Kozack, assured [...]
TL;DR
- The IMF is collecting information to determine the best approach for restarting contact with Venezuelan authorities.
- Any new relationship or contact must be initiated by a request from Caracas.
- Formal IMF activities like consultations under Article IV, technical assistance, or financial aid are paused.
- Low-level and exploratory contacts are permissible.
- Resumption of relations requires validation by a majority vote of IMF member countries.
- The IMF has had discussions about Venezuela with the U.S. Treasury Secretary.
- IMF relations with Venezuela were paused in 2019 due to institutional recognition problems.
- The current interim president of Venezuela has been recognized by Washington, which could influence future interactions.