In a twist of events, IMF rejected Venezuela’s request for a $5 billion loan to help fight the Covid-19 pandemic. It could be a tit-for-tat of karma, as the UN and the world were begging Venezuelan President Nicolas Maduro last year the same season, to accept their aide but Maduro tossed the nationalistic pride to shout “his people are not beggars”. A large percentage of Venezuelans are starving and devoid of proper health care and are now exposed to the dreaded pandemic.
But now President Nicolas Maduro made the request earlier Tuesday but, in a statement hours later, the Washington-based institution indirectly cited a dispute over Maduro’s leadership in denying his petition.”Unfortunately, the Fund is not in a position to consider this request,” because there is “no clarity” on international recognition of the country’s government, the Washington-based institution said in a statement.
Last year following an uprising against Maduro, opposition leader Juan Guaido had declared himself acting president.US and many other nations had accepted Guaido as the leader of the South American nation.US sanctions and other international pressure have failed to dislodge Maduro, who is backed by Venezuela’s creditors China and Russia and retains the support of the powerful military and a set of highly nationalistic Venezuelans.
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