IMF says Venezuela's economic, humanitarian situation is 'quite fragile'

Venezuela's economic and humanitarian situation is "quite fragile," the International Monetary Fund said on Thursday, adding that it was seeing inflation estimated to be in the triple digits and a rapid depreciation of the currency.



IMF spokeswoman Julie Kozack told reporters that the global lender was continuing to monitor developments in the South American country despite having paused its relations with the Venezuelan government since 2019.



She said the IMF would be guided by its members and the international community on whether to re-engage with the country, which has seen about a quarter of its population - some 8 million people - leave since 2014.



"Venezuela is undergoing a severe and prolonged economic and humanitarian crisis," Kozack said during an IMF briefing. "Socioeconomic conditions remain very difficult; poverty is high, inequality is high and there's widespread shortages of basic services. The situation overall is quite fragile."