IMFrejectscrisis-hitVenezuela’srequestformassiveCOVID-19aid-GlobalTimes

load_file(“/includes-n/article_top.html”);load_file(“/includes-n/float_share.html”);WORLD / AMERICASIMF rejects crisis-hit Venezuela’s request for massive COVID-19 aidBy AFPPublished: Mar 18, 2020 09:53 PMload_file(“/includes-n/article_share.html”);The International Monetary Fund on Tuesday rejected economically devastated Venezuelas request for a $5 billion loan to help it cope with the coronavirus pandemic.A man shops at a store covered with plastic as a precautionary measure against the spread of COVID-19 in Caracas, Venezuela on Tuesday. Photo: AFPPresident Nicolas Maduro made the request earlier Tuesday but, in a statement hours later, the Washington-based institution indirectly cited a dispute over Maduros leadership in denying his petition.”Unfortunately, the Fund is not in a position to consider this request,” because there is “no clarity” on international recognition of the countrys government, the Washington-based institution said in a statement.”As we have mentioned before, IMF engagement with member countries is predicated on official government recognition by the international community, as reflected in the IMFs membership. There is no clarity on recognition at this time,” the statement said.More than 50 countries including the United States have not recognized Maduro for more than a year. They switched allegiance to opposition leader Juan Guaido who declared himself acting president.Guaido branded Maduro a usurper over the presidents 2018 reelection in polls widely seen as fraudulent. But US sanctions and other international pressures have failed to dislodge Maduro, who retains the support of the powerful military.The RFI from which Maduro sought the assistance is a mechanism by which all IMF member countries can get financial assistance without the need to have a full-fledged economic program in place.Venezuelas health system is vulnerable after five years of economic and political crisis that has sent millions of people fleeing for lack of basic staples.”We hardly have five percent of the medicine stocks we need,” Douglas Leon Natera, head of the Venezuelan Medical Federation, told AFP earlier.Jan Egeland, general secretary of the Norwegian Refugee Council, placed Venezuela in the same category as war-torn Syria and Yemen in its preparedness.Like those countries, “there will be carnage” when the virus reaches parts of Venezuela given that “health systems have collapsed,” warned Egeland.load_file(“/includes-n/article_share.html”);RELATED ARTICLES Over 20 countries seek financial relief amid outbreaks: IMFIMF Managing Director Kristalina Georgieva on Monday said that over 20 additional ­countries have asked about receiving aid … IMF chief economist calls for targeted policies to limit COVID-19 economic falloutThe COVID-19 outbreak will have “a significant economic fallout,” and “substantial targeted policies” are thus needed to support … IMF to provide 50-bln-USD emergency financing to help address COVID-19 The International Monetary Fund (IMF) is making available about 50 billion U.S. dollars through its rapid-disbursing emergency financing … IMF, World Bank say “ready to help” member countries address COVID-19The International Monetary Fund (IMF) and the World Bank Group “stand ready to help our member countries” address …load_file(“/includes-n/article_most_view.html”);var wxs = (function() {return navigator.userAgent.toLowerCase().indexOf(micromessenger) !== -1})();if (!wxs) {/* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * */var disqus_shortname = globaltimes; // required: replace example with your forum shortnamevar disqus_identifier = 1183051;/* * * DONT EDIT BELOW THIS LINE * * */(function () {var dsq = document.createElement(script); dsq.type = text/javascript; dsq.async = true;dsq.src = https:// + disqus_shortname + .disqus.com/embed.js;(document.getElementsByTagName(head)[0] || document.getElementsByTagName(body)[0]).appendChild(dsq);})();}Please enable JavaScript to view the comments powered by Disqus.blog comments powered by Disquswindow._taboola = window._taboola || [];_taboola.push({mode: thumbnails-a,container: taboola-below-article,placement: below article,target_type: mix});load_file(“/includes-n/footer.html”);load_file(“/includes-n/addthis.html”);

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