Economics
Maduro Is Cut Off From $400 Million in Cash Held at the IMF
- Venezuela drew down IMF SDRs from about $1 billion in 2018
- IMF has yet to formally recognize Guaido as Venezuelan leader
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As Nicolas Maduro steps up his search for cash overseas, another door is slamming shut.
The International Monetary Fund suspended the Venezuelan leader’s access to almost $400 million of special drawing rights, citing political chaos since National Assembly President Juan Guaido claimed in January that he was the nation’s rightful leader, said two people familiar with the matter. Venezuela already whittled its SDR holdings down from almost $1 billion in March 2018.