Bessent: IMF, World Bank Resume Formal Relations With Venezuela

Treasury Secretary Scott Bessent said the move opens new doors to financial support which will ultimately support the Venezuelan people.

Rachel Acenas

Published: 4/17/2026, 2:05:54 PM EDT

Bessent: IMF, World Bank Resume Formal Relations With Venezuela — Venezuelan opposition supporters take part in a a march on the anniversary of 1958 uprising that overthrew military dictatorship in Caracas on Jan. 23, 2019. (Luis Robayo/AFP/Getty Images)

The Trump administration has announced that the International Monetary Fund (IMF) and World Bank are restoring formal relations with Venezuela, marking an important step in the country’s economic stabilization and recovery.

Treasury Secretary Scott Bessent said the move opens new doors to financial support, which will ultimately support the Venezuelan people.

“The Trump administration has been rapidly delivering on @POTUS’ promise to help stabilize and restore Venezuela’s economy to benefit both Americans and Venezuelans. The United States’ recognition of interim President Delcy Rodríguez has led the way for @IMFNews to reengage with Venezuela,” Bessent wrote on X.

Resuming a formal relationship with Venezuela comes after the Trump administration in January ousted President Nicolas Maduro in an overnight raid on Caracas. Washington since then has been working with Rodriguez to reestablish relations.

Venezuela has been a member of the IMF since December 1946, but the bank's dealings with the country have been paused since March 2019.

The decision to reengage with Venezuela paves the way for the IMF to ‌fully access the country's economy, a move that could ultimately unlock billions of dollars in funding via frozen special drawing rights, assets that are available to countries through IMF engagement.

According to JPMorgan's estimates, Venezuela's special drawing rights are worth $5 billion.

“I welcome the decision to resume IMF dealings with Venezuela. This important step, guided by the views of our members, allows the Fund to re‑engage in a way that can ultimately benefit the Venezuelan people,” IMF Managing Director Kristalina Georgieva wrote on X.

The World Bank Group also issued a statement announcing it was resuming dealings with Venezuela's government under Rodriguez. Its last loan to Venezuela was made back in 2005.

Venezuela for the past decade has suffered from an economic, political, and humanitarian crisis that has forced millions to seek refuge in other countries.

According to the U.N. Refugee Agency, an estimated 2,000 people are leaving Venezuela every day due to rampant violence, inflation, gang warfare, soaring crime, food and medicine shortages. More than 7.9 million Venezuelans have left the country since 2014.

Bessent praised the IMP and World Bank for the decision to pave the way to help the Venezuelan people.

“We welcome this decision by IMF member states as an important step in Venezuela’s economic stabilization and recovery,” he said. “The @USTreasury looks forward to Venezuela’s working with the IMF on policies to benefit all Venezuelans, and we will continue to partner with Venezuela as it moves forward on this path.”

Reuters contributed to this report.