Venezuela asks IMF for US$5b aid over coronavirus

Published Tue, Mar 17, 2020 · 11:15 PM

    [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

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Share with us your feedback on BT's products and services