IMF calls meeting of steering committee on pandemic response: source

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

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Joseph Ellis

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