Connect with us

Latest Aproko

Venezuela Asks IMF For $5bn Aid Over Coronavirus

Handout image launched by Miraflores Presidential Palace displaying Venezuela’s President Nicolas Maduro making a televised announcement on the Miraflores Presidential Palace, in Caracas, on March 15, 2020.  Venezuelan Presidency / AFP

 

President Nicolas Maduro requested the Worldwide Financial Fund on Tuesday for a $5 billion mortgage to assist crisis-worn Venezuela address the onslaught of the coronavirus.

In a letter to IMF chief Kristalina Georgieva, Maduro mentioned a $5 billion mortgage from the IMF’s Speedy Financing Instrument “will contribute significantly to strengthening our detection and response systems.”

The RFI is a mechanism by which all member nations can get monetary help with out the necessity to have a full-fledged financial program in place.

Contacted by AFP, the IMF declined to touch upon the letter, made public on Tuesday by Venezuela’s International Minister Jorge Arreaza.

Venezuela’s well being infrastructure is in tatters after 5 years of financial and political disaster which has despatched tens of millions of individuals fleeing for lack of fundamental staples.

Maduro has ordered a lockdown within the capital Caracas and 6 different Venezuelan states over the coronavirus, with the variety of reported instances at 17.

Safety forces on bikes and in autos are patrolling the streets of the capital to implement the containment measures and make sure that solely meals shops stay open.

The nation has banned flights to and from Europe, in addition to Colombia, Panama and the Dominican Republic. It has additionally suspended college and college courses in addition to sports activities occasions.

Venezuela’s mortgage request is the primary to the IMF since 2001.

“At this crucial moment and aware of the high level of contagion of this disease, we will continue to take rapid and vigorous measures” to cease the advance of the pandemic, Maduro wrote.

“We are convinced that in permanent coordination with the WHO (World Health Organization) and the support among the countries of the world, we will be able to overcome this difficult situation.”

AFP

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *