The International Monetary Fund (IMF) headquarters in Washington, DC. Photo: Karen Bleier/AFP/Getty Images/file photo.
Caracas (OrinocoTribune.com)—Venezuelan Acting President Delcy Rodríguez announced on Friday night that the government has successfully accessed an initial $346 million of its own resources previously held frozen by the International Monetary Fund (IMF). These funds will be directed immediately toward the recovery and reconstruction of areas devastated by the double earthquake that struck the country on June 24.
“Following the devastating double earthquake that affected our country, Venezuela has initially accessed $346 million of its own resources in the IMF, which will be allocated to the recovery and reconstruction process,” Rodríguez reported on July 17. She noted that these funds are essential for supporting affected families, rebuilding housing, repairing infrastructure, and restoring vital public services.
🚨 BREAKING: Venezuela has just unlocked $346 million from its IMF reserve tranche to fund urgent earthquake relief. 🇻🇪
Following the devastating 7.2 and 7.5 magnitude quakes in late June, these fast-tracked funds are bypassing the usual political gridlock to go directly where… https://t.co/J5pvnaOcty— Orinoco Tribune (@OrinocoTribune) July 18, 2026
She thanked IMF Managing Director Kristalina Georgieva for her support and commitment, as well as to the institutions that facilitated the decision. She reaffirmed the government’s commitment to working “tirelessly” to protect the Venezuelan people and advance national recovery.
Rebuilding amid the blockade
While the released funds provide a vital lifeline for the more than 18,000 people left homeless by the 7.2 and 7.5 magnitude earthquakes, the broader financial landscape remains constrained. An additional $4.5 billion in Venezuela’s Special Drawing Rights (SDRs) in the IMF remains frozen due to the ongoing US blockade.
The fast-tracked $346 million is intended to bypass traditional sanctions-related obstacles, with the aim of:
• Rebuilding destroyed residential housing.
• Repairing destroyed regional infrastructure.
• Restoring essential public services in the most affected zones, particularly La Guaira and Caracas.
OFAC relaxes emergency transfer mechanisms
In conjunction with the IMF decision, Washington announced on Friday a relaxation of transfer mechanisms for emergency relief funds. The Office of Foreign Assets Control (OFAC) of the US Treasury Department confirmed that aid for the June 24 disaster can now be transferred directly to the Venezuelan government, circumventing the restricted financial channels originally imposed by Washington.
This policy adjustment is detailed in an update to the FAQ section of the OFAC official website. The agency clarified that General License 60 (GL 60) authorizes these operations within the framework of the sanctions regime, facilitating the operational management of humanitarian aid.
According to the US Treasury Department, this authorization “includes payment of taxes, tolls, and fees to the Government of Venezuela connected with such relief efforts.” It also specified that payments related to earthquake relief authorized by GL 60 do not need to be paid into the Foreign Government Deposit Funds (FGDF) account—the imperial mechanism established by the White House to control portions of Venezuelan oil revenue after the January 3 invasion of Venezuela that resulted in the kidnapping of President Nicolás Maduro.
Limitations of the temporary measure
The US government underscored that this measure is strictly limited and conditional. The regulations state that this financial relief is temporary and will remain in effect only until midnight of October 23, 2026.
Furthermore, the license allows for the processing of funds from third countries, provided they directly support the transactions authorized by the license. Financial institutions and money transmitters registered in the US are authorized to process these transfers based on information provided by the sender.
Special for Orinoco Tribune by staff
OT/JRE/SC
