LATEST
Español English 中文 Português Français Italiano Deutsch العربية Русский اردو

Hope for Venezuela: Quest to Unblock Funds for National Reconstruction

09/07/2026 22:26 - Internacionales

A New Horizon for Earthquake Victims

The tragedy left a painful toll, but the resilience of the Venezuelan people and international solidarity are lighting a beacon of hope for recovery.

Almost two weeks after the double earthquake on June 24, 2026 (with magnitudes of 7.2 and 7.5), Venezuela's acting president, Delcy Rodriguez, announced urgent and hopeful measures to rebuild the affected areas, primarily in the La Guaira region. The official toll as of July 8 records 3,811 deceased, 16,740 injured, and 17,907 homeless. However, 6,462 people were rescued alive, and more than 86,000 families received assistance.

The Letter to King Charles III and IMF Negotiations

To finance this monumental reconstruction task, the Venezuelan government is seeking to unblock funds held abroad. Rodriguez confirmed she sent a letter to the United Kingdom's King Charles III requesting the release of USD 1.9 billion in gold bullion held at the Bank of England. This gold, belonging to Venezuela's international reserves, would be entirely allocated to address the earthquake's consequences.

Additionally, the acting president spoke with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, to request access to USD 5.1 billion that Venezuela holds in the organization's Special Drawing Rights (SDRs).

What are Special Drawing Rights (SDRs)?
SDRs are an international reserve asset created by the IMF to supplement the official reserves of member countries. They are not a currency themselves, but a potential claim on the freely usable currencies of IMF member countries. In this case, they amount to approximately USD 5.1 billion.

Aggressive Construction of Anti-Seismic Housing

The government has called on domestic and foreign companies to undertake a rapid and aggressive home-building campaign. A team of experts is already identifying suitable soils to develop new anti-seismic cities. The project, backed by the United Nations (UN), involves importing prefabricated houses to swiftly address the housing emergency.

The UN Under-Secretary-General for Humanitarian Affairs, Tom Fletcher, assured that the organization is already raising funds for the initiative and requested the easing of international sanctions to facilitate the arrival of aid. The UN Development Programme (UNDP) estimated direct physical damage at USD 6.7 billion.

Initial Emergency Fund

An initial fund of USD 200 million was created, and an account was opened at CAF-Development Bank of Latin America and the Caribbean to channel international donations transparently.

Regional Support

Latin American solidarity was present: Argentina sent 16 tons of aid and specialized doctors, while France contributed 44 tons of humanitarian supplies to assist the victims.

Psychological Care and Camps

Nearly 17,000 people remain in one of the 61 camps set up in La Guaira, Caracas, and other affected areas. Recognizing the severe psychological impact of the tragedy, authorities enabled telephone assistance channels with mental health professionals, demonstrating that recovery is also emotional.

Sources: Infobae and Deutsche Welle

Today's News
Alfredo's Column Alfredo S. Quiroga

Alfredo S. Quiroga