Venezuela Leadership Issue Still Blocking IMF, World Bank Aid

Locals gather at a street food cart during a blackout in Caracas Venezuela

However, it was extremely unlikely that the UN Security Council would approve the US-proposed resolution.

US Vice President Mike Pence has called on the United Nations to expel the representative of Venezuelan President Nicolas Maduro, while warning that Washington was open to using all options to oust the country's leader. The US is unlikely to get the required votes to carry it out.

The finance ministers group on Thursday "discussed plans for future economic support of Venezuela", Mnuchin said in a statement, but cautioned that it may require "a long and costly process of rebuilding Venezuela after many years of poor economic policies and kleptocracy". Guaido enjoys the support of more than 50 countries, led by the United States.

"I think they understand who the malign actor is here and I think they'll see all the countries in the region, including the United States, as truly trying to help them", he said.

At the Miraflores Palace (the venue of the Executive), Maduro charged that U.S. authorities do not stop the constant charge against national institutionality, proved by the sabotages on the National Power System (SEN).

The International Committee of the Red Cross (ICRC) recently announced that it will expand its humanitarian effort in Venezuela, saying ICRC has tripled its budget for operations in the country from around $9 million to about $24.6 million.

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Nebenzia said there are many examples of the US overthrowing Latin American leaders and he asked Venezuela's neighbours, who support Guaido: "Don't you understand that Venezuela is merely a bargaining chip in the geopolitical and geostrategic struggle for influence in the region and the world?"

In an about-face, Maduro said on national TV and radio that his government and the Red Cross had agreed "to work together with United Nations agencies to bring into Venezuela all the humanitarian aid that can be brought". The United States is "very focused at the appropriate time of the transition of using both, International Monetary Fund and World Bank resources to rebuild the country", he stressed.

United Nations humanitarian chief Mark Lowcock said the crisis has worsened and that 25 percent of the population need humanitarian aid.

"The scale of need is significant and growing", Lowcock said.

The IMF added the Venezuelan situation is "a considerable burden" for the growth of Latin America and the emerging or developing economies for the next two years.

An estimated 3 million Venezuelans have left the oil-rich OPEC country since 2015. In January, Guaido tried to spearhead a drive to bring in American aid but the effort failed as the Venezuelan army blocked shipments at the Colombian border.

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