IMF Offers Support to Earthquake-Stricken Venezuela

Washington, June 26: The International Monetary Fund (IMF) expressed its condolences to the victims of the devastating earthquake in Venezuela on Thursday. The IMF stated that it is collaborating with the Venezuelan government to assess the economic impact of this disaster.

Julie Kozak, Director of the IMF Communications Department, mentioned in a press briefing that it is too early to determine the extent of assistance the IMF will provide, as officials are still evaluating the damages and needs.

Kozak expressed deep sympathy for those affected by the earthquake, stating, “We are saddened by the impact of the earthquake in Venezuela. Our thoughts are with the Venezuelan people during this difficult time.” The IMF has been in continuous contact with Venezuelan authorities since the earthquake occurred.

She added, “We are in ongoing discussions with Venezuelan officials and will remain engaged to assess the economic repercussions and necessary steps for recovery.”

Regarding the immediate release of emergency aid from the IMF, she noted that discussions are still in the preliminary stages. “So far, the IMF has not been involved in the debt restructuring process announced by Venezuela,” she clarified.

Kozak also mentioned that the IMF maintains regular communication with the Venezuelan government regarding the country’s economic situation and future prospects, and is prepared to assist if needed.

She explained that debt restructuring typically occurs under an IMF-supported program, but this is not always necessary. “The IMF is never part of negotiations or agreements between the government and creditors,” she stated.

Kozak elaborated that the IMF usually provides assessments of the economic situation and analyses related to repayment capacity to enhance agreements between the government and creditors, ensuring that the country’s economic stability can be sustained in the long term.

She acknowledged that Venezuela’s situation is somewhat unique, but the IMF stands ready to assist Venezuelan officials if required.

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