IMF Won’t Lend to Venezuela Because Maduro Lacks Recognition

IMF says loans require clarity on who is official government
Maduro had requested $5 billion from fund to fight coronavirus

Nicolas Maduro, Venezuela's president, speaks during a press conference at Miraflores Palace in Caracas, Venezuela, on Friday, Feb. 14, 2020. "The day the courts of the Republic order Juan Guaido's detention for the crimes he has committed, he will go to jail, rest assured," Maduro said.

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By Patricia Laya and Alex Vasquez

March 17, 2020 at 7:10 PM UTC

Updated on

March 18, 2020 at 4:20 AM UTC

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The International Monetary Fund said that it can’t consider Venezuelan President Nicolas Maduro’s request for $5 billion to deal with the coronavirus pandemic because his government isn’t recognized by the international community.

“Unfortunately, the fund is not in a position to consider this request,” an IMF spokesperson said. “As we have mentioned before, IMF engagement with member countries is predicated on official government recognition by the international community, as reflected in the IMF’s membership. There is no clarity on recognition at this time.”