IMF and World Bank Resume Relations with Venezuela

Washington: The International Monetary Fund (IMF) and the World Bank announced Thursday, April 17, 2026, the resumption of their relations with Venezuela, interrupted since 2019, under the administration of interim president Delcy Rodríguez. The decision paves the way for the IMF's first full assessment of the Venezuelan economy in approximately 20 years and could eventually unlock billions of dollars in funding through frozen Special Drawing Rights (SDRs).

IMF Managing Director Kristalina Georgieva communicated that the institution, guided by the views of a majority of its members, will resume relations with the Venezuelan government. "This important step allows us to re-engage in a way that can ultimately benefit the Venezuelan people," Georgieva stated. The World Bank also issued a statement saying it is resuming dealings with Venezuela; the institution's last loan to the country dates from 2005.

Interim President Celebrates the Development

Rodríguez, who assumed power in January 2026 following the detention of former President Nicolás Maduro, described the restoration of ties as "a great achievement of Venezuelan diplomacy." "I want to thank all the countries and governments that joined in this push for Venezuela's return to the IMF," she said in an address broadcast on state television. The announcement comes weeks after US President Donald Trump's administration lifted sanctions on Rodríguez, the latest move by Washington to confer legitimacy on Venezuela's new leadership.

Venezuelan Economy in Critical Condition

Georgieva acknowledged that Venezuela's economy is in a very difficult situation. "The country, not having had any serious international engagement, not just with the Fund, is in a place where data adequacy falls very short," she explained. The IMF plans to deploy a team in three stages: first, collecting and verifying reliable statistical data; second, offering institutional capacity-building support; and third, establishing a financial support program. According to Georgieva, Venezuela lost two-thirds of its economic activity in recent years and more than 8 million people have left the country, a higher percentage of the population than Ukrainians who fled the war.