International Monetary Fund backs new Special Drawing Rights allocation for pandemic recovery
The executive board of the International Monetary Fund (IMF) has approved a proposal for a new general Special Drawing Rights (SDR) allocation of $650 billion, the largest allocation in the organisation's history, to help recovery from the Covid-19 pandemic, IMF Managing Director Kristalina Georgieva said on Friday.
The IMF chief urged G20 policymakers to step up international cooperation to end the pandemic