Key facts
- US President Donald Trump met with Venezuela's interim President Delcy Rodriguez on Tuesday.
- The meeting was the first between the two leaders since US forces captured Nicolas Maduro.
- IDB President Ilan Goldfajn is seeking board approval for a $2.5 billion loan to Venezuela.
- Some IDB board members are pushing back against the loan due to a lack of parallel work with other lenders.
- Protesters gathered outside the UN demanding free elections in Venezuela.
US President Donald Trump met with Venezuela's interim President Delcy Rodriguez on Tuesday on the sidelines of the UN General Assembly, marking their first encounter since US forces captured then-President Nicolas Maduro in January. Rodriguez's delegation is focused on presenting Venezuela as "investable" and has engaged in talks with US officials, multilateral lenders, and companies regarding energy, mining, and debt.
Meanwhile, Inter-American Development Bank (IDB) President Ilan Goldfajn is reportedly seeking board approval for a $2.5 billion loan to Venezuela. However, the proposal faces resistance from some board members who are concerned about the bank proceeding without parallel engagement from other multilateral lenders. The IDB had halted new loans to Venezuela in May 2018 due to payment arrears. Venezuela's total disclosed debt obligations are approximately $240 billion, including $150 billion to $170 billion in external sovereign bonds and debt tied to state oil company PDVSA.
During his address to the General Assembly, Trump referred to Maduro as an "outlaw dictator" and highlighted the US's willingness to use military might to protect its interests. He also mentioned an oil deal signed last month, calling it "perhaps the biggest deal ever made." A group of Venezuelan protesters gathered outside the UN, waving flags and carrying signs demanding free elections and criticizing Rodriguez's presence, with some referencing Maduro's detention.