IMF and Venezuela weigh SDR access for earthquake recovery

The June 24 disaster has left nearly 18,000 people homeless and resulted in 17,000 injuries, placing immense pressure on the nation’s strained resources. IMF spokesperson Julie Kozack confirmed that the fund is currently working with Venezuelan counterparts to facilitate the rapid mobilization of these funds.

These Special Drawing Rights represent a readily available financial cushion that the government intends to pivot toward urgent relief efforts. By accessing this reserve tranche, authorities aim to address the critical gaps in infrastructure and emergency aid generated by the seismic event.