Venezuela Taps $200 Million in IMF Reserves for Earthquake Reconstruction
Updated
Updated · Bloomberg · Jun 25
Venezuela Taps $200 Million in IMF Reserves for Earthquake Reconstruction
3 articles · Updated · Bloomberg · Jun 25
Summary
$200 million will be drawn initially from Venezuela’s IMF reserve assets to help fund reconstruction after back-to-back earthquakes, according to people familiar with the plan.
The money would come from the country’s $4.5 billion stock of Special Drawing Rights, the IMF’s reserve asset that governments can use to bolster financing needs.
It remains unclear whether Caracas will seek additional SDR funds soon, leaving the eventual size of the earthquake recovery package uncertain.