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| Version 0 | Version 1 |
|---|---|
| Venezuela 'to withdraw from IMF' | Venezuela 'to withdraw from IMF' |
| (40 minutes later) | |
| Venezuelan President Hugo Chavez says he wants to pull his country out of the International Monetary Fund and the World Bank. | Venezuelan President Hugo Chavez says he wants to pull his country out of the International Monetary Fund and the World Bank. |
| In a speech to mark 1 May, Mr Chavez said he wanted the move to take effect as soon as possible. | In a speech to mark 1 May, Mr Chavez said he wanted the move to take effect as soon as possible. |
| As the country has settled its IMF debt, the withdrawal is largely a symbolic gesture, correspondents say. | As the country has settled its IMF debt, the withdrawal is largely a symbolic gesture, correspondents say. |
| President Chavez also announced an almost 20% increase in the minimum monthly wage. | President Chavez also announced an almost 20% increase in the minimum monthly wage. |
| "We don't need to be going up to Washington... we are going to get out," Mr Chavez said. | "We don't need to be going up to Washington... we are going to get out," Mr Chavez said. |
| "We are going to withdraw before they go and rob us," he went on. | "We are going to withdraw before they go and rob us," he went on. |
| The president said he had ordered Finance Minister Rodrigo Cabezas to begin formal proceedings to withdraw from the two international bodies. | The president said he had ordered Finance Minister Rodrigo Cabezas to begin formal proceedings to withdraw from the two international bodies. |
| Mr Chavez said Venezuela would seek repayment of money owed to it by the IMF and World Bank - presumably a reference, correspondents say, to contributions which member countries pay. | Mr Chavez said Venezuela would seek repayment of money owed to it by the IMF and World Bank - presumably a reference, correspondents say, to contributions which member countries pay. |
| "We still have a few bucks there," he said. | "We still have a few bucks there," he said. |
| President Chavez has spoken of his ambition to set up what he calls a Bank of the South, backed by Venezuelan oil revenues, which would finance projects in South America. | |
| Ecuador, led by another left-wing president, Rafael Correa, has also spoken of leaving the IMF, and recently expelled World Bank representatives from the country. | Ecuador, led by another left-wing president, Rafael Correa, has also spoken of leaving the IMF, and recently expelled World Bank representatives from the country. |