VivirLatino

On Monday, Venezuela’s President Hugo Chavez announced that his country would no longer be part of the World Bank and the International Monetary Fund(IMF).Chavez said:

“We will no longer have to go to Washington nor to the IMF nor to the World Bank, not to anyone,”.

Venezuela had already been out of the Washington based lending institutions since it had repaid its debts to the World Bank five years ahead of schedule, saving $8 million and paid off all its debts to the IMF shortly after Chavez first took office in 1999. The IMF closed its offices in Venezuela late last year.

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