IMF says it is reviewing data provided by Venezuela

WASHINGTON – The International Monetary Fund said Thursday that it is reviewing delayed economic data provided by Venezuela.

IMF spokesman Gerry Rice told reporters that the executive board will meet in coming weeks to determine whether the South American country has met its obligation to share periodic information.

“At this stage, we are reviewing data that we have received from Venezuelan authorities,” Rice said.

He would not say when the data was received.

The IMF issued a declaration of censure against Venezuela in May for its failure to implement remedial economic measures and provide required information.

At the time, the IMF gave Caracas six months to respond with updated figures.

Venezuela’s central bank hasn’t published official economic data since 2004, although member states of the international coalition are expected to do so every year.

Venezuela’s currency has lost almost all its value as the country’s deep economic crisis has led to one of the worst cases of hyperinflation ever seen.