The US to aid Venezuela with USD 10 bln trade finance fund

Monday 15 April 2019 08:57 CET | News

The US government has revealed plans to start working with a group of countries on a USD 10 billion fund to help Venezuela rebuild trade.

The US has joined dozens of other countries in recognizing Venezuelan opposition leader Juan Guaido as interim president but embattled President Nicolas Maduro remains in power.

However, those institutions must sit on the sidelines until there is clear international recognition of a government in Caracas.

In addition to the potential for financing from the IMF and World Bank, Treasury Secretary Steven Mnuchin has hosted a meeting of the friends of Venezuela, which includes many Latin American and European countries, as well as Japan, where ministers also discussed the need for the oil exporting power to restore trade.

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Keywords: trade finance, US, Venezuela, government, payments
Countries: World