G20 Backs More IMF Aid For Covid-hit Poor Nations

Sumaira FH Published April 07, 2021 | 08:23 PM

G20 backs more IMF aid for Covid-hit poor nations

G20 finance ministers and central bankers on Wednesday backed the International Monetary Fund's proposals to boost its reserve offerings by $650 billion to help poor nations hit by coronavirus

Rome, (APP - UrduPoint / Pakistan Point News - 7th Apr, 2021 ) :G20 finance ministers and central bankers on Wednesday backed the International Monetary Fund's proposals to boost its reserve offerings by $650 billion to help poor nations hit by coronavirus.

In a statement, they called on the IMF "to make a comprehensive proposal for a new Special Drawing Rights (SDR) general allocation of $650 billion to meet the longterm global need to supplement reserve assets", adding that such an allocation "would enhance global liquidity and will help the global recovery".

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