This Thursday, Venezuelan Acting President Delcy Rodríguez signed the Organic Law of Mines into effect. During the signing, she welcomed Venezuela’s reinstatement in the International Monetary Fund (IMF) after years of illegal exclusion. However, she clarified on Friday that her government does not have an indebtedness program planned.
Accompanied by Vice President for Economy and Finance Calixto Ortega and Minister for Economy and Finance Anabel Pereira, the acting president sealed a new chapter in the management of Venezuela’s mining resources. The event included participation of workers from various mining unions, state delegates, the private sector, and small producers, who were connected via satellite from the Manuel Carlos Piar Mining Complex in Bolívar state.
This new law not only strengthens the state’s authority over mineral resources but also establishes mechanisms to ensure that mining is carried out in accordance with the highest standards of environmental protection, workplace safety, and social responsibility.
The enactment of the law represents a significant step forward in consolidating a mining model while guaranteeing the interests of the state, investors, and—as a priority—local communities and small producers.
Venezuela back in the IMF
Rodríguez also greeted and thanked United States President Donald Trump and US Secretary of State Marco Rubio for progress toward Venezuela’s full reintegration into the global financial system. For Rodríguez, this has been a great achievement of Venezuelan diplomacy and of all the governments that allowed the IMF to reinstate Venezuela as a full member with all rights.
“I welcome the diplomatic dialogue with the US government, I salute and thank President Donald Trump, Secretary Marco Rubio, and all the teams that were involved in this process of seeking the normalization of Venezuela’s representation in the International Monetary Fund,” said the acting president.
Rodríguez thanked the head of the agency, Kristalina Georgieva, for her efforts, stressing that this step is vital for strengthening and stabilizing the Venezuelan economy and its strategic role in the region. She also thanked the countries that collaborated throughout the process, including the United Arab Emirates, Brazil, and Qatar.
Each advance in this direction represents a firm step towards economic normalization and Venezuela’s economic recovery. These developments are the product of an active diplomatic agenda and sustained cooperation with the US government.
On Friday, the acting president clarified that Venezuela does not have an indebtedness program planned following the resumption of relations with the IMF, which were interrupted seven years ago.
“We do not have any indebtedness program planned… The recovery of our representation in this international organization is very important; it is great news for Venezuela,” she noted during a cultural government activity, broadcast by the public channel Venezolana de Televisión (VTV).
For nearly a decade, since the US strengthened its illegal sanctions against Venezuela, the country was stripped of its rights as an IMF member, including access to over $5 billion in Special Drawing Rights (SDR). This was part of a US-led operation aiming to harm the Venezuelan people and provoke a regime change, which eventually failed due to the Venezuelan people’s resistance.
Far right opposition
Rodríguez also condemned extremist far-right sectors in Venezuela for attempting to obstruct the normalization of relations between Venezuela and the IMF. “It is very regrettable, I must say responsibly: it is very regrettable that Venezuelan extremists took it upon themselves to visit capitals in Europe and other countries to try to prevent this crucial step for our economy,” the acting president stated.
Following the IMF’s announcement regarding the resumption of relations with Venezuela, the Venezuelan government welcomed the news. The administration hailed the move as a victory for diplomacy and the dialogue process with the US government.
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The recognition of the truth about Venezuela has been essential in driving these initiatives and opening new avenues for collaboration. Obtaining these banking licenses not only facilitates interaction between Venezuelan financial institutions and their international counterparts but also lays the foundation for a more robust economic future.
(Alba Ciudad) with Orinoco Tribune content
Translation: Orinoco Tribune
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