Acting President Delcy Rodríguez has formally urged the International Monetary Fund to release Venezuela’s $5 billion in frozen Special Drawing Rights (SDRs), originally requested by President Nicolás Maduro in 2020, crucial for vital infrastructure and economic stability.
During the “Grand National Pilgrimage for a Venezuela without Sanctions and in Peace” held in Falcón state on April 21, Venezuela’s Acting President Delcy Rodríguez provided an update on recent diplomatic and financial initiatives spearheaded by President Nicolás Maduro since 2020, focusing on the recovery of Venezuelan frozen assets.
Rodríguez underscored the imperative for the nation not to yield to adversities but to persevere with unwavering determination for the country’s supreme interests. The request, reiterated during high-level diplomatic dialogues, aims to strengthen public services and improve the lives of Venezuelan workers.
In her dialogue with the community, the Acting President confirmed a critical conversation with International Monetary Fund (IMF) Managing Director Kristalina Georgieva. The central point of discussion was Venezuela’s persistent demand for access to $5 billion in Special Drawing Rights (SDRs), which remain unjustly blocked.
Rodríguez meticulously recalled that on March 15, 2020, President Nicolás Maduro had formally petitioned the IMF for emergency financing. This initial request was specifically intended to bolster Venezuela’s healthcare system during the severe global challenge posed by the COVID-19 pandemic. However, despite the urgent need, these crucial funds were never disbursed to the nation.
The Acting President emphatically asserted that these funds are unequivocally the property of the Venezuelan nation. She further highlighted that this fervent plea for the release of the funds has been consistently reiterated by Venezuelan representatives in various international dialogue processes, including those held in Barbados, Mexico and Qatar, demonstrating a sustained diplomatic effort to reclaim what the nation considers its sovereign resources.
During her detailed explanation to the IMF directorate, Rodríguez clearly articulated that Venezuela possesses specific and meticulously planned projects for the responsible and effective utilization of these assets.
The primary objective for gaining access to these considerable resources, which rightfully belong to Venezuela, is the urgent recovery of vital national infrastructure. This includes critical areas such as the electricity and water supply systems, which have been significantly impacted by unilateral coercive measures and lack of access to international financing. Furthermore, the release of these funds is essential to help ensure broader macroeconomic stability, a cornerstone for the stability of the national currency and the exchange rate system.
A key priority outlined in these projects is the direct recovery of income for Venezuelan workers, ensuring their purchasing power and quality of life improve. These priorities are comprehensively integrated into the Seven Transformations Plan, which has undergone extensive popular debate and formulation under the leadership of President Maduro, reflecting a broad national consensus on development goals.
Development Projects Announced
Beyond the vital issue of the IMF funds, Acting President Rodríguez used her visit to Falcón to announce significant regional development projects. A Presidential Commission for the comprehensive development of Santa Ana de Coro has been established. This commission is tasked with an integrated approach to improving public services -including water, electricity and gas- boosting tourism potential and fostering sustained economic growth within the region.
As part of the concrete commitments made during the visit, Rodríguez instructed the immediate rehabilitation of the Muaco pier. This crucial infrastructure project aims to significantly enhance Coro’s maritime connectivity with the wider Caribbean region. Such an improvement is expected to invigorate commercial exchange, providing a vital artery for trade, and simultaneously boost the recognition and contribution of local producers who are pivotal to the nation’s export capabilities.
Author: Laura V. Mor
Source: Venezuelan Presidential Press
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