IMF restores ties with Venezuela

Ties had been paused since 2019 due to disputes over government recognition and the political crisis surrounding Nicolas Maduro.

The IMF stated the decision was guided by a majority of its members and consistent with long-standing practices of engaging with de facto authorities.

Venezuela's central bank chief resigned shortly after the announcement, with Vice President Perez set to take over the role.

The restoration of ties comes as the U.S. has eased some sanctions on the country's financial system to encourage democratic reforms.