Venezuelan Vice President Delcy Rodriguez criticized the International Monetary Fund (IMF) for not sending their allotted COVID-19 funds amid economic sanctions from the United States.
“The International Monetary Fund refuses to give our people the $5 billion owed to our country to fight the pandemic,” Rodriguez said in a speech to the United Nations Conference on Trade and Development (UNCTAD) on Oct. 6.
Venezuela was allocated $5 billion out of $650 billion from the IMF’s new Special Drawing Rights (SDR) which was provided to inject liquidity for member countries’ COVID-19 relief spending.
But the IMF has warned earlier in the year that it will not hand over the allocation due to disputes over the legitimacy of Venezuela’s government under President Nicolas Maduro.
The lack of foreign recognition over Maduro’s government prompted sanctions from the U.S. which, according to Rodriguez, caused losses of up to $63 billion in the oil sector alone.
“We have been the target of more than 430 unilateral coercive measures that have blocked our foreign and private trade, against all legal principles of sovereign immunity,” Rodriguez said, claiming that such measures were crimes against humanity.
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