"Newly installed World Bank Group president David Malpass said on Thursday that the development lender is preparing to become "deeply involved" in Venezuela, "but the situation is still troublesome on the ground". Speaking at a press conference on the opening day of the joint World Bank and International Monetary Fund (IMF) spring meetings, Malpass said that Venezuela is a "deep concern" for the World Bank, but that any decision to intervene in the country or recognise opposition leader Juan Guaido as Venezuela's president would be left to the World Bank's stakeholders... Venezuela is in the throes of a prolonged and worsening economic crisis that has led to severe shortages of food, life-saving medicines and electricity. More than 50 nations including the United States have thrown their support behind the country's self-proclaimed interim president, Juan Guaido. Russia, China, Turkey and Cuba support President Nicolas Maduro, who has vowed to remain in power."