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Venezuela, Colombia name ambassadors in step toward normalization

AFP

Venezuela and Colombia both named new ambassadors to the other country on Thursday, a first step in normalizing diplomatic relations after the recent inauguration of Colombian President Gustavo Petro.

In Caracas, President Nicolas Maduro announced that former Foreign Minister Felix Plasencia had requested his accreditation from the Colombian government “and will soon be in Bogota.”

Petro, who was inaugurated as Colombia’s first leftist president on Sunday, pledged during his campaign to immediately reverse a decision by his predecessor, right-wing leader Ivan Duque, to sever diplomatic ties with Venezuela.

Duque, along with the United States, the European Union and others, did not recognize Maduro’s re-election in 2019 and instead backs opposition leader Juan Guaido’s claim that he is Venezuela’s interim president.

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“In response to the Venezuelan government, I have appointed an ambassador who will (also) be tasked with normalizing diplomatic relations between the two countries,” Petro said in a video. The Colombian ambassador in Caracas will be a former senator, Armando Benedetti.

In addition to exchanging ambassadors, the normalization process will include the full reopening of the more than 2,000-kilometer (1,200-mile) border between the two countries, which has been largely closed to vehicles since 2015 — though it has been open to pedestrians since late last year.

Caracas and Bogota have also announced intentions to restore military relations.

“We will continue step by step and at a safe pace to advance toward the restoration and reconstruction of political, diplomatic and commercial relations,” Maduro said on state television.

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International

Trump to decide soon on deportation exemptions for construction and farm workers

U.S. President Donald Trump stated on Tuesday in Florida that he will make a decision in the coming weeks regarding exemptions from deportations for workers in the construction and agriculture sectors.

Trump made these remarks to the media during a visit to the new migrant detention center, ‘Alligator Alcatraz,’ located in the middle of a wetland in Florida, the White House reported.

ICE (Immigration and Customs Enforcement) raids have targeted many of these workers, sparking fear among them and threatening to slow down two sectors that are vital to the U.S. economy.

In construction, 25.7% of workers are immigrants, and 14.1% of the total workforce nationwide is undocumented, according to the American Immigration Council.

In agriculture, the percentage of undocumented employees rises to 42%, according to data from the Department of Agriculture cited by the New York Times.

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International

IDB plans $11 billion in sustainable financing to support countries facing currency risks

The Inter-American Development Bank (IDB) aims to unlock at least $11 billion in sustainable financing to help countries address challenges including natural disasters that strain their currencies and hinder private sector investment.

As the United States and other wealthier countries reduce official development assistance, multilateral lenders face pressure to find new ways to tackle issues such as climate change and biodiversity loss. During the Fourth International Conference on Financing for Development, IDB President Ilan Goldfajn stated that the measures adopted by the IDB are expected to inspire more private sector contributions, which is a key priority of the conference.

“We are not just announcing ideas; we are launching what the private sector is asking for: credible tools, scalable platforms, and real opportunities to invest with impact and confidence,” he added.

Support will include a new platform designed to help countries manage the risk of large swings in their national currencies that can deter international investors by making returns harder to predict. Based on a program in Brazil that has already attracted $8 billion from the private sector since its launch last year, the plan is to expand the concept to other regional economies over the next three years and at least double the amount mobilized.

Called FX EDGE, the platform will offer a credit line that activates if a currency drops sharply—a common problem during political or debt crises or after natural disasters—ensuring debtors can continue to service their loans in dollars or other foreign currencies.

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The platform also aims to enable greater use of long-term currency hedging instruments, such as derivatives, through local banks and financial institutions, backed by the IDB’s credit rating.

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International

Maduro’s government appeals to Vatican for help rescuing migrant children

Este lunes, durante su programa semanal ‘Con Maduro +’, el mandatario venezolano anunció que pediría al sumo pontífice su ayuda para rescatar a 18 niños migrantes.

“Yo sé que el papa es un hombre que comprende estos temas. Le pido ayuda a la Iglesia católica, apostólica y romana, al papa León, para que la Iglesia católica de Estados Unidos y la Iglesia católica de El Salvador proteja a los migrantes y nos ayude con sus gestiones para rescatar a estos niños y a estas niñas”, indicó Maduro en el espacio transmitido por VTV.

Más temprano, Rodríguez había pedido al alto comisionado de la ONU para los Derechos Humanos, Volker Türk, y al coordinador residente de la ONU en Venezuela, Gianluca Rampolla, pronunciarse sobre este hecho y exigió a Washington devolver a los pequeños.

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