IMF OKs big increase in funds to alleviate pandemic impact
Washington, Aug 3 (AP-PTI) The governing body of the International Monetary Fund has approved a USD 650 billion expansion in the agency's resources to support economically vulnerable countries battling the coronavirus pandemic and the economic downturn it has caused.
The 190-nation lending institution said Monday that its board of governors approved the expansion of its reserves known as Special Drawing Rights, the largest increase in the institution's history.