Venezuela borrows nearly $350 million from International Monetary Fund for quake reconstruction - EUROPE SAYS
WASHINGTON — The Venezuelan government is borrowing $346 million from the International Monetary Fund to help pay for efforts to rebuild parts of the country hit by devastating double earthquakes last month,. . .
WASHINGTON — The Venezuelan government is borrowing $346 million from the International Monetary Fund to help pay for efforts to rebuild parts of the country hit by devastating double earthquakes last month, acting President Delcy Rodríguez said. Rodríguez wrote on Telegram on Friday that the money was to be used for reconstruction and to support the affected families. She thanked IMF chief Kristalina Georgieva for her support and all the institutions that had made this step possible. On June 24, two earthquakes of magnitude 7. 2 and 7. 5 shook the South American country. The number of officially confirmed fatalities has now risen to more than 5,000. Some 16,740 people were injured, the authorities said. Almost 18,000 people are said to have lost their homes in the disaster. Hundreds of buildings were damaged or destroyed. Venezuela and the IMF, headquartered in Washington, officially resumed relations in April after a seven-year break. Relations had been frozen after the IMF in 2019, like the U. S. and other countries, recognized the opposition government under Juan Guaidó as Venezuela’s legitimate government, and not that of ruler Nicolás Maduro. Maduro was ousted in January by a U. S. military operation, after which the U. S. and other states recognized the interim government under Rodríguez and a rapprochement with the IMF followed. Tags:EconomyIMFInternational Monetary Fund