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Venezuela asks IMF for US$5b aid over coronavirus

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President Nicolas Maduro asked the International Monetary Fund on Tuesday for a US$5 billion loan to help crisis-worn Venezuela cope with the onslaught of the coronavirus.

[CARACAS] President Nicolas Maduro asked the International Monetary Fund on Tuesday for a US$5 billion loan to help crisis-worn Venezuela cope with the onslaught of the coronavirus.

In a letter to IMF chief Kristalina Georgieva, Mr Maduro said a US$5 billion loan from the IMF's Rapid Financing Instrument "will contribute significantly to strengthening our detection and response systems."

The RFI is a mechanism by which all member countries can get financial assistance without the need to have a full-fledged economic programme in place.

AFP