IMF, World Bank Resume Contact With Venezuela In Further Recognition Of Interim Government

Source: International Business Times

The International Monetary Fund (IMF) and the World Bank announced they resumed engagement with Venezuela, a development that could pave the way for the country to receive international funding the first time in several years. CNBC noted that engagement with the country had stopped in 2019 due to issues related to the recognition of the government as lawful. Now, the IMF could conduct its first assessment of the country's economy in about 20 years and potentially unlock billions of dollars resulting from frozen special drawing rights.