IMF approves largest SDR allocation in history
The International Monetary Fund's (IMF) board of governors has approved a new general allocation of Special Drawing Rights (SDR) equivalent to $650 billion, the largest ever in the organisation's history, in an effort to boost global liquidity amid the Covid-19 pandemic
Final approval of the SDR allocation by the Board of Governors requires an 85 per cent majority of the total voting power of all IMF members. Source: IANS