Venezuela is no more than 5,000 million dollars (4,170 million euros) de Derechos Especiales de Giro del Fondo Monetario Internacional (FMI) due to the dispute over the legitimacy of Nicolás Maduro al frente del país latinoamericano.
According to the Fondo bases, Venezuela is one of the main beneficiaries of the IMF resources worth 650,000 million dollars (more than 540,000 million euros). The objective of the organism with these funds is to stimulate global liquidity, as well as to help emerging economies and large buds suffer from the increase in pandemic debt.
The IMF’s financial assistance is equivalent to 81% of the current international reserves of the country, which were included in an economic recession of more than six years.
Without embargo, Venezuela will not be able to access these resources, which the majority of countries reclaimed through their central banks in the case of approval by the Fund, and more than 50 countries (between the United States) consider the leader of the opposition , Juan Guaidó, the legitimate leader of the country since 2018.
“The political crisis in Venezuela has led to a lack of clarity in the international community, as reflected in the FMI membership, with respect to the official reconciliation of the Gobierno”, said the spokesman of the IMF, Gerry Rice, in a interview with ‘Bloomberg’, where he states that the Latin State can not access the Special Derechos of Giro “hasta recognize a Gobierno”.
This decision was previously submitted to the Governor of Maduro, who has been the subject of a global financial redemption debt in the United States sanctions.
Conflicts over relations between Venezuela and the IMF have been raging for at least 14 years, with former president Hugo Chávez compromising on the laity with the Washington pork organization, following him, solely serving the interests of the state.
This failure of relations between both parties has led to the organization not carrying out an evaluation of the Venezuelan economy under Article IV for 14 years, which has provoked many economists of the institution to sit in Washington to realize that they ‘Macroeconomic forecasts for the Netherlands.
The Venezuelan Giro Special Derechos reserves only 12.5 million dollars (10.4 million euros) last month, a very lower figure than the 3,600 million dollars (3,000 million euros) registered in 2009 as consequence of the global financial crisis, according to FMI data.
Currently, more than two thirds of Venezuela’s international reserves are in gold. The country faces problems in order to obtain resources through the sale of languages, both through the sanctions of the United States as well as through the conflict of reconciliation of the legitimate leader of the country.