Venezuela discusses use of reserves with IMF to fund earthquake recovery plan

· Environment VEN

Venezuela's interim president Delcy Rodríguez met with an International Monetary Fund delegation on July 29 to discuss deploying international reserves toward the country's post-earthquake reconstruction, the "Venezuela Reborn" plan.

The talks in Caracas covered macroeconomic outlooks, economic policy priorities, technical assistance, and financing mechanisms for the recovery effort following the devastating June 24 double earthquake. Rodríguez had announced on July 17 that the country gained access to $346 million in IMF funds earmarked for reconstruction.

The twin earthquakes killed more than 5,500 people, injured at least 16,740, and displaced roughly 18,000 residents. The World Bank estimates direct material damage at approximately $19.6 billion, far exceeding the IMF financing currently available to the South American nation.

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