Tags: kudlow | rescue | restructuring | venezuela

Kudlow: US Working on Rescue, Restructuring Plan for Venezuela

one hundred bolivares the currency of the country venezuela in south america
(Volodymyr Plysiuk/Dreamstime)

Wednesday, 03 April 2019 12:23 PM EDT

White House economic adviser Larry Kudlow on Wednesday said the United States has plans to rapidly revitalize the Venezuelan economy, including financial and food planning as well as getting cash to people in the country.

The rescue and restructuring plan for Venezuela would involve getting dollars into the country, and the United States is working with banks in the region to help, Kudlow told reporters at an event hosted by the Christian Science Monitor news outlet. 

Meanwhile, thousands of Venezuelans broke through barricades along the international border with Colombia on Tuesday, according to the migration office in Bogota, which warned Venezuelan President Nicolas Maduro that he would be held responsible for any problems that may occur.

Maduro in February blocked bridges joining the two nations in a bid to prevent a U.S.-backed effort to distribute hundreds of tons of humanitarian aid to the crisis-wracked nation.

With bridges blocked by containers and trucks, Venezuelans have been wading through the Tachira River to reach the city of Cucuta, on Colombia’s northern border, to find food, medicines and work. But torrential rains in recent days has made that impossible.

“The usurper Maduro is responsible for anything that may happen to the population that is transiting between the two countries,” said Christian Kruger, head of Colombia’s migration agency, highlighting the risk to the Simon Bolivar bridge being weakened.

Millions of Venezuelans have fled to Colombia to escape widespread shortages of food and medicine in their homeland, seeking jobs locally and passage into other Latin American countries.

Venezuela plunged into a deep political crisis in January, when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to assume an interim presidency, arguing Nicolas Maduro’s 2018 re-election was not legitimate.

Trump has taken steps to ratchet up pressure on Maduro and bolster Guaido, who has been recognized as president by the United States and more than 50 other countries, including Colombia.

Colombia’s government says providing Venezuelan migrants access to basic services and expanding healthcare, education and public utilities costs it a half percentage point of annual gross domestic product. Colombia’s GDP in 2018 was some $312 billion.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
White House economic adviser Larry Kudlow on Wednesday said the United States has plans to rapidly revitalize the Venezuelan economy, including financial and food planning as well as getting cash to people in the country.
kudlow, rescue, restructuring, venezuela
352
2019-23-03
Wednesday, 03 April 2019 12:23 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved