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IMF declines Venezuela's request of $5bn to tackle coronavirus

The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington, U.S., April 8, 2019.

Jesus Silva
Press TV, Caracas

It has been confirmed that the International Monetary Fund, also known as IMF, has rejected Venezuelan President Nicolas Maduro's request for US$5 billion in order to fight the coronavirus pandemic in the Latin American country.

The financial body stated that the request could not be considered because there was "no clarity" among its 189 member states on who it recognizes as Venezuela’s rightful leader.

For over a year, the IMF has been involved in the rhetoric over admitting the legitimacy of democratically elected President Maduro or regarding the US-backed politician Juan Guaido as interim president of Venezuela.

Maduro had sent a letter to the IMF, explaining the requested money was meant to strengthen the response capacities of the Venezuelan health system in the containment of the coronavirus pandemic, as the system has been heavily battered by illegal US sanctions. Socialist officials say the IMF did not take into account the humanitarian nature of the request.

However in the opposition, many have a different opinion on the IMF’s move. But socialist officials vindicate Maduro's request of money. From a different perspective, analysts say there are still other options for getting financial support.

Experts also say that if people abide by the government's quarantine, the virus outbreak may drop down within a few weeks. Thirty six infection cases have been reported so far. None of them has turned deadly.


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