UN Calls On IMF To Explore Ways To Further Support Fragile Countries Amid Pandemic
Faizan Hashmi 7 days ago Fri 09th April 2021 | 12:20 AM
UNITED NATIONS (UrduPoint News / Sputnik - 09th April, 2021) UN Secretary-General Antonio Guterres called on the International Monetary Fund to explore how to further support developing countries combating the coronavirus pandemic following the outcome of the meeting of the world's finance chiefs of the G20, UN spokesperson Stephane Dujarric said on Thursday.
The spokesman said the UN Chief had welcomed the support of the G20 in its decision to extend the freeze on debts of vulnerable countries and call for a $650 expansion of the International Monetary Fund's emergency reserves.
"We call on the IMF to explore how to further support vulnerable low-income and middle-income countries in line with its mandate, and also for them to work with their members to continue exploring ways for voluntary post-allocation channeling of Special Drawing Rights to support members' recovery efforts," Dujarric said.
Dujarric also reiterated Guterres' earlier appeal to adopt a three-phased approach to the debt crisis based on a debt standstill, targeted debt relief for the most vulnerable and a reform in the international debt architecture.