The IMF refused to allocate Venezuela $5 billion to fight coronavirus

the international monetary Fund refused to consider the request for the allocation of Venezuela $5 billion, directed earlier by the President of the Bolivarian Republic Nicolas Maduro. The money was intended to combat the spread of coronavirus. However, the IMF referred to the fact that the petitioner is not legitimate from the point of view of the international community.

“unfortunately, the Foundation is unable to consider this request. As we mentioned earlier, the cooperation of the IMF with member countries based on the official recognition of the government of (country) international community, as reflected in the rules of membership in the IMF”, — stated in the message Fund, “At the moment there is no clarity regarding recognition.”

Earlier, IMF chief Kristalina Georgieva said that the Fund is ready to use up to a trillion dollars of reserve funds to assist more than 20 countries submitting applications.

At the same Georgieva did not specify who exactly will receive funds from the IMF, but pointed out what is already available $50 billion that will be allocated through the mechanism of emergency financing.