Venezuela taps IMF reserves for reconstruction as earthquake death toll surpasses 5,000
Official figures confirm 5,069 fatalities and 16,740 injuries after magnitude 7.2 and 7.5 earthquakes devastated La Guaira, leaving 20,000 people homeless in inadequate camps.
Venezuelan officials have confirmed that the death toll from twin earthquakes that struck the country on 24 June has exceeded 5,000, with National Assembly chief Jorge Rodriguez recording 5,069 fatalities. The seismic events, measuring magnitudes of 7.2 and 7.5, occurred within a minute of each other near Moron, west of Caracas, causing widespread devastation in the coastal state of La Guaira.
In response to the scale of the disaster, Interim President Delcy Rodriguez announced that the government has accessed $346 million from the International Monetary Fund (IMF) to support reconstruction efforts. The funds were drawn from Venezuela’s reserve tranche, a mechanism confirmed by IMF Managing Director Kristalina Georgieva, who stated that the institution worked with key counterparts to help Venezuela access its own resources for urgent humanitarian needs.
The financial assistance marks a significant shift in Venezuela’s engagement with international financial bodies. The IMF and the World Bank resumed relations with Venezuela in April 2026, following the overthrow of former leader Nicolas Maduro in January. Prior to this, Venezuela held 3.568 billion Special Drawing Rights (SDRs), equivalent to approximately $5.1 billion, which had been blocked since 2019 because the institutions did not recognise Maduro’s administration.
The humanitarian crisis remains acute, with approximately 20,000 people displaced and living in overcrowded camps that lack adequate water supplies and sanitation systems. While the number of injured stands at 16,740, Rodriguez noted that most patients had already been discharged from hospitals, leaving the focus on long-term recovery and infrastructure rebuilding.
The earthquakes, which struck shortly after 18:00 local time, triggered a state of emergency declared by Rodriguez. Initial reports cited significantly lower casualty figures, but the toll has risen sharply as rescue operations continued in the decimated coastal region. International aid has been pledged by the United States, China, and Spain, though the immediate reliance on IMF reserves highlights the domestic fiscal constraints facing the interim government.
