The International Monetary Fund will likely provide Venezuela with a financial support program as part of its re-engagement with the South American oil exporter.
However, this is provided that certain conditions can be met.
IMF Managing Director Kristalina Georgieva told a press conference in Washington that the IMF is ready to assemble a staff team to work with Venezuelan authorities, but added that the country faces “a very tough road” to β restore macroeconomic and financial stability.
A report by Reuters says the IMF announced its re-engagement with Venezuela on Thursday night after no dealings βsince March 2019 and no full economic assessment since 2004.
“After a seven-year-long pause, we are committed to actively βengaging with Venezuela, to do our part to help the country achieve macroeconomic and financial stability, to help the people of Venezuela to see better days,” Georgieva said.
First on the IMF’s list of priorities is sorting out Venezuela’s βeconomic data, and the global lender already has reached out to the country’s finance ministry, central bank βand statistical agency.
