FILE PHOTO: The Worldwide Financial Fund (IMF) headquarters constructing is seen forward of the IMF/World Financial institution spring conferences in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File Picture
WASHINGTON (1) - The Worldwide Financial Fund will convene a unprecedented meeting of its steering committee on Friday to debate the Fund’s response to the quickly spreading coronavirus pandemic, a source accustomed to the plans mentioned on Thursday.
IMF Managing Director Kristalina Georgieva on Thursday requested G20 leaders to again a doubling of the $50 billion in emergency financing the Fund has already made obtainable to assist poor and middle-income international locations cope with the well being and financial influence of the pandemic.
She additionally requested G20 leaders to spice up international liquidity by means of a sizeable SDR (Particular Drawing Proper) allocation, as was performed through the 2008-2009 monetary disaster, in addition to expanded use of swap sort amenities on the Fund.
Reporting by Andrea Shalal