Venezuela Exits World Bank, IMF

May 1st, 2007 at 09:40am

Hugo Chavez, president of Venezuela, announced yesterday that the nation is withdrawing from the World Bank and the International Monetary Fund. Venezuela recently paid off its debt to the World Bank, five years ahead of schedule. Its IMF debt has been paid off since 1999, and that institution has already closed its offices in the country. The withdrawals are considered a symbolic measure on the part of Chavez, who has been vocal in his opposition to Latin American reliance on Washington.

http://www.cnn.com/2007/WORLD/americas/04/30/chavez.venezuela.money.ap/

Entry Filed under: Americas, International Aid and Development