Government says $346 million from Venezuela’s IMF reserve tranche will finance reconstruction and humanitarian recovery after June’s earthquakes.
Venezuela has secured access to $346 million from its own resources held at the International Monetary Fund (IMF) to finance reconstruction and recovery efforts following the June 24 earthquakes, Acting President Delcy Rodríguez announced on Friday.
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In a statement published on her Telegram channel, Rodríguez said the funds will be used to “support affected families with housing, infrastructure, essential public services, among other needs.”
The acting president thanked IMF Managing Director Kristalina Georgieva for her support and commitment, as well as the institutions involved in facilitating access to the resources.
“We will continue working tirelessly to protect our people and advance the country’s recovery,” Delcy Rodríguez said.
The announcement follows a July 8 phone call between Rodríguez and Georgieva regarding the release of Venezuelan assets held at the IMF. During that conversation, Caracas reiterated its demand for an end to sanctions and the unblocking of Venezuelan state assets.
Text Reads: Venezuela recovers $346 million from the IMF for reconstruction after earthquakes.
IMF spokesperson Julie Kozack said the resources come from Venezuela’s reserve tranche, an immediately accessible source of liquidity that is distinct from the country’s Special Drawing Rights (SDRs), valued at approximately $4.5 billion, which remain held by the institution.
According to Kozack, reserve tranche assets are immediately available to respond to urgent humanitarian needs resulting from the disaster.
The IMF and Venezuela resumed relations in April after contacts had been suspended since 2019. Since then, both sides have maintained regular technical engagement aimed at facilitating future access to additional financial instruments.
As part of those efforts, Rodríguez announced last week that she had sent a letter to King Charles III requesting the release of Venezuelan gold held at the Bank of England.
Government seeks full return to international financial system
In a recent interview with Spanish journalist Javier Negre, Rodríguez said the government is working toward Venezuela’s full reintegration into the international financial system.
“If we are talking about the financial sector, where we are also untangling Venezuela’s return to the international financial system, allowing both public and private banks to recover correspondent banking relationships, it is very important so that the foreign exchange market, which has been affected by the economic blockade and sanctions, can once again operate smoothly,” she said.
According to Rodríguez, restoring financial relations would help stabilize the foreign exchange market, facilitate commercial transactions and strengthen domestic economic activity.
She also said Venezuela has reached an advanced stage in negotiating strategic agreements in the hydrocarbons sector, projecting 2027 as a key year for economic growth.
“I have no doubt that next year, 2027, will be a year of major momentum and economic growth due to external revenues generated by the investments being made in hydrocarbons,” Acting President declared.
She reported current oil production at 1.2 million barrels per day, with a target of reaching around 1.4 million barrels per day by the end of the year.
“This recovery process must translate into improving workers’ incomes in the country and into concrete benefits,” she added.
Official emergency update
The government said the newly released resources will be allocated immediately to mitigate the impact of the earthquake emergency.
According to the latest official update issued on Friday, the June 24 earthquakes have left 5,069 people dead and 16,740 injured. Authorities also reported 6,462 people rescued, 128,324 families assisted, 17,907 people left homeless, and 21,235 people currently living in 107 temporary camps.
The public health system has treated 36,951 patients, primarily in La Guaira. Officials also reported 856 damaged buildings and 190 collapsed structures.
Emergency operations currently involve 2,278 international rescue workers, 30,989 security and support personnel, and 31,745 workers deployed in affected areas. Authorities said they have distributed 10,063 metric tons of food and 29,565,652 liters of water, while 1,331 aftershocks have been recorded since the main earthquake.
From teleSUR English via This RSS Feed.