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Maduro: "Venezuela is Not a Colony of the World Bank or IMF"

Venezuelan President Nicolás Maduro declared his country’s independence from the dictates of international financial institutions such as the World Bank and the International Monetary Fund (IMF). Speaking at the National Economic Council, he outlined key measures to strengthen Venezuela’s sovereignty and criticized leaders pursuing neoliberal reforms.
Jan 23, 2025 - 13:27
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Photo taken from public sources

Maduro’s Statement

During his speech, Maduro emphasized Venezuela’s path to economic independence:


Alliance with ALBA and Cuba

Maduro reaffirmed Venezuela’s commitment to the Bolivarian Alliance for the Peoples of Our America (ALBA) and its alliance with Cuba:


Key Economic Measures

At the National Economic Council meeting, Maduro announced plans to strengthen Venezuela’s economy:

  1. Development of 13 priority economic sectors.
  2. Appointment of officials responsible for key production areas.
  3. Import substitution: boosting domestic production.
  4. Creation of an investment and credit strategy.
  5. Strengthening tax collection: combating tax evasion.

Additionally, Maduro tasked the council with:


Context

Venezuela’s economy has been under severe pressure due to sanctions, hyperinflation, and political isolation. Despite these challenges, the country continues to emphasize independence from international financial structures, promoting alternative models of development.

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