A technical team from the International Monetary Fund (IMF) is in Caracas to discuss capacity development, data provision, and institutional strengthening.
The International Monetary Fund (IMF) is considering opening an office in Venezuela, which would mean establishing a permanent presence in the country for the first time in years.
According to Bloomberg, sources familiar with the matter said the multilateral organization is seeking to intensify its technical assistance after Venezuela began sharing its data again.
The idea arose after several conversations with Venezuelan officials, although the IMF has not made any specific decision on this matter.
An IMF spokesperson said that the international organization has maintained “close contact” with Venezuelan officials, as it increases its collaboration with the Caribbean nation.
At present, a technical team from the organization is in Venezuela in order to discuss capacity development, data provision, and institutional strengthening.
Since 2004, the International Monetary Fund has not carried out its usual annual review of Venezuela’s economy, known as the Article IV consultation.
It is important to note that technical assistance is an important form of non-financial support that the IMF provides to its members to strengthen institutions such as central banks and statistical agencies.
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