IMF Denies Pressuring Venezuela to Release Economic Data
The International Monetary Fund said on Thursday it had not pressured Venezuela to release economic indicators after years of silence, while two sources said the country's surprise data release this week was due to pressure from China. The central bank on Tuesday unexpectedly released data confirming Venezuela is suffering hyperinflation and massive economic contraction. The release reversed President Nicolas Maduro's unofficial policy of classifying economic indicators as state secrets. The data reported a 22.5 percent contraction in Venezuela's economy in the third quarter of 2018 from the same period of the previous year. The bank did not provide a full-year 2018 figure for economic activity. Monthly inflation in April 2019 was 33.8 percent, while 2018 full-year inflation reached 130,060 percent, the bank said. The IMF said it suspended work with…