IMF monitoring Venezuela after quake
Washington, June 25
The International Monetary Fund on Thursday expressed sympathy for the victims of the devastating earthquake in Venezuela and said it was working closely with the country's authorities to assess the economic impact of the disaster and determine the best way to support recovery efforts.
Speaking at a regular IMF press briefing, Julie Kozack, Director of the IMF's Communications Department, said it was too early to determine the scale of any IMF assistance as officials continued to evaluate the country's needs.
"We're deeply saddened by the impact of the earthquake on Venezuela. We express our deep sympathy to all of those affected, and our thoughts are with the people of Venezuela at this very difficult time for the country," Kozack said.
She said the Fund was maintaining close contact with Venezuelan authorities following the disaster.
"We've been closely engaged with the Venezuelan authorities, and we will remain closely engaged with them as they assess the economic impact and the recovery needs for Venezuela," Kozack said.
Asked whether the IMF would make emergency resources immediately available, Kozack said discussions were still at an early stage.
Responding to questions about Venezuela's recently announced debt restructuring, Kozack said the IMF was not participating in negotiations between the government and its creditors.
"So far, the Fund has not been involved in the debt restructuring process that has been announced by Venezuela," she said.
She added that the IMF maintained regular engagement with the authorities on the country's macroeconomic outlook and "stand ready to assist the authorities as needed."
Kozack explained that while debt restructuring often takes place under an IMF-supported programme, that was not always the case.
"The IMF is never a party to the negotiations and the discussion," she said.
Instead, the Fund typically provides a macroeconomic framework and debt sustainability analysis to assess whether any agreement between a government and its creditors can restore long-term debt sustainability.
"In this case, it's a bit different," Kozack said, noting that the IMF remained ready to assist Venezuelan authorities as needed during the restructuring process.
— IANS
Reader Comments
IMF ka stance bata raha hai ki debt restructuring aur relief dono alag cheeze hain. Venezuela ko apne creditors ke saath deal karna padega, lekin IMF ka macroeconomic framework definitely helpful ho sakta hai. Umeed karte hain ki woh jald se jald recover kare. 🌍
It's good that the IMF is monitoring the situation, but words are cheap. Venezuela has been in a deep crisis for years, and now a natural disaster hits. They need real support—materials, funds, and logistics. Otherwise, this is just another bureaucratic exercise in futility.
IMF ka debt restructuring mein involvement nahi hai, kyunki woh independent process hai. Lekin yeh bhi sahi hai ki Venezuela ke paas sochne ka time nahi hai – earthquake ne sab kuch hilakar rakh diya. Bhagwan unka saath de. 🙏
IMF hamesha kehta hai ki woh support karne ke liye ready hai, but implementation mein deri hoti hai. Venezuela ke logon ko abhi immediate relief chahiye, kyunki earthquake ke baad infrastructure bhi damaged ho gaya hoga. Umeed karte hain ki IMF jaldi action le.
Main toh kehti hoon, IMF ke bajaye global community ko direct aid bhejna chahiye. Venezuela ke haalat pehle se hi vulnerable the, aur ab earthquake ne sab kuch aur mushkil kar di
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