By Nahir González on March 18, 2020
Yesterday afternoon the Government of the Bolivarian Republic of Venezuela requested a loan of $5 billion from the International Monetary Fund (IMF) to address the coronavirus pandemic.
The announcement was made by the Venezuelan Foreign Minister, Jorge Arreaza, on his twitter account @jaarreaza, who explained that this request is due to the need to strengthen the country’s health system, which has been affected by the unilateral coercive measures issued for years by the United States. He also announced that it is a matter of accessing the specific modality of the Rapid Financing Instrument (IFR), whose funds are made available by the financial entity for cases of extreme urgency.
In response to the controversy created in social networks by the Bolivarian government’s request to the Director General of the IMF, Kristalina Georgieva, the Minister of People’s Power for Economy and Finance clarified that the Government will not submit the country’s sovereignty as a condition and that it guarantees the continuity of the Economic Recovery, Growth and Prosperity Program undertaken by the State. He went on to emphasize that the IFR’s money is being offered to the organization’s member countries and that the request is made in the context of a situation in which Venezuela has had more than $5 billion withheld from foreign banking institutions in recent months.
The IMF’s response was quick and one of its spokespersons publicly announced the decision to deny the loan, by questioning the legitimacy of the Bolivarian authorities, thus bowing to Washington’s criminal blockade and refusing to make a humanitarian gesture to the Venezuelan civilian population who would be the only beneficiary. “The IMF’s commitment to member countries is based on the official recognition of the Government by the international community, as reflected in the IMF membership. There is no clarity on that recognition at this time,” the spokesman added.
The Covid-19 pandemic is affecting Venezuela with 36 confirmed cases, according to Vice President Delcy Rodríguez, which led authorities to decree a national quarantine, in addition to other measures. She also said that the transportation systems will be authorized exclusively for workers in the areas of food, health and telecommunications, while everyone must wear protective masks in public spaces.
This Wednesday, a mega operation will be carried out to distribute food through the Local Committees of Productive Supply (CLAP), as a way of protecting the population. Finally, Rodríguez said that thanks to the joint work with the Colombian government, 1,000 Venezuelan women and men returned to the country, who will be submitted to the health protocols established by the World Health Organization (WHO).
Source: Corro del Alba, translation Resumen Latinoamericano, North America bureau