It is one thing to badmouth the multilaterals but another to leave them, even for oil-rich Venezuela. Pulling out of the IMF would amount to a technical default on Venezuela's bonds and would raise the cost of future borrowing.
As I understand it, Venezuela no longer owes the IMF a dime. Is this pure mediaspeak (paying back your debts=default) is does pulling out of the IMF actually amount to a technical default on bonds?
Leaving the World Bank would tear up bilateral investment treaties that Venezuela has signed with other countries (and which use the bank's investment-dispute machinery).
Again, mediaspeak for "no longer subject to U.S. imposed special rules"? Or does this actually remove enforcement mechanisms from existing treaties?
