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The IMF must grant Venezuela’s bid for funds now
Venezuela’s appeal for an emergency loan worth $US5 billion to help it tackle the coronavirus crisis has been turned down. We cannot accept this, writes Unite's TONY BURKE
A woman wearing a mask walks wearing her cross at sunset during Holy Week in the Catia neighbourhood of Caracas, Venezuela, on Easter Sunday
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THE Venezuelan government wrote to the International Monetary Fund (IMF) seeking funds from its rapid financing instrument (RFI) to “strengthen its detection and response systems” during the coronavirus pandemic.
The IMF claims that RFI loans “can be disbursed very quickly to assist member countries implement policies to address emergencies such as the coronavirus” and has allocated $50 billion (£40bn) to the fund.
This decision not to grant an RFI then, seems to illustrate that it is really the US Trump administration, with its unremittingly hostile policy of securing illegal regime change through sanctions against Venezuela, that is calling the shots at the IMF.
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