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Venezuela Cut Off From Share of IMF's $650 Billion New Reserves


Venezuela Cut Off From Share of IMF’s $650 Billion New Reserves
Bloomberg
2 hrs ago
Patricia Laya and Eric Martin
(Bloomberg) The International Monetary Fund won’t hand over $5 billion of special drawing rights to Venezuela to bolster its reserves as part of a massive injection of resources to member nations, due to an ongoing dispute over whether President Nicolas Maduro is the legitimate leader of the country.
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Venezuela in theory would be among the biggest recipients in terms of percentage of gross domestic product of a proposed $650 billion in special drawing rights that the IMF is planning to give countries to boost global liquidity. This is part of an effort to help emerging and low-income nations deal with mounting debt and Covid-19. ....

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