To revive the global economy, the International Monetary Fund launches $650 billion in aid

Economie| 09:52 – 03/08/2021


Follow-up – Mawazine News
, the Board of Governors of the International Monetary Fund, on Tuesday, agreed to provide the largest support in its history, worth $650 billion, to help countries deal with the increasing repercussions resulting from the Corona pandemic.
The fund said in a statement, “The board approved a general distribution of the equivalent of $650 billion in special drawing rights units to support global liquidity.”
For her part, Managing Director of the Fund, Kristalina Georgieva, said, “It is a historic decision. This is the largest allocation of SDR allocations in the history of the Fund, and it is a vaccine injection into the arm of the global economy during an unprecedented crisis.”
She added that “
This general distribution of SDR allocations will become effective on August 23.
Member countries will receive newly issued SDR units in proportion to their existing quotas in the fund.
About $275 billion (about SDR 193 billion) of the new issuance will be distributed to emerging markets and developing countries, including low-income countries. Ended 29/A

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