Venezuela's Economic Fragility: IMF's Watchful Eye

Venezuela's economic and humanitarian situation is deemed 'quite fragile' by the IMF, with inflation in triple digits and currency depreciation. The IMF monitors Venezuela's status, despite paused relations since 2019, considering international guidance to re-engage amidst a massive population exodus since 2014.

Venezuela's economic and humanitarian landscape is dramatically fragile, according to statements made by the International Monetary Fund (IMF) on Thursday. The institution cited inflation surging at triple-digit rates and the rapid decline of the national currency as major issues.

Julie Kozack, an IMF spokeswoman, emphasized that the fund continues to closely monitor circumstances in Venezuela, even though official ties with its government have been on hold since 2019.

Re-engagement, she noted, would depend on cues from the fund's members and the broader international community, amid ongoing emigration that has seen roughly 8 million residents—or about a quarter of the population—depart since 2014.

(With inputs from agencies.)