World Bank: shareholders to decide on recognizing Venezuela

"The bank will be involved as the situation evolves and the bank is preparing for that," Malpass told reporters during bank's spring meetings with the International Monetary Fund.

He said Venezuela was of "deep concern" and was facing a "humanitarian crisis."

"As far as the political side, we will be guided by the international community and the views of our shareholders," he added.

"This is something that is not chosen by the bank but by the shareholders of the bank."

Malpass's views echoed those of the IMF, which said Wednesday it would have no contact with Caracas, and would not allow the country access to its IMF-held reserves, until the international community recognized a government there.

Venezuela's national assembly leader Juan Guaido in January challenged the legitimacy of embattled leader Nicolas Maduro as the country's acute economic crisis worsened.

The United States is among about four dozen countries to recognize Guaido.

Malpass took office on Tuesday as the World Bank's 13th president, having previously served as a top US Treasury official for international affairs.