G7 Eyes Allocating $100 Billion From IMF Funds To Covid-Ravaged Nations: US

0

“The United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in need,” the US president’s office said.

G7 Eyes Allocating $100 Billion From IMF Funds To Covid-Ravaged Nations: US

G7 leaders will discuss the issue on how to help steer the world’s recovery from the pandemic.



Carbis Bay, England:

The United States and other Group of Seven nations are considering reallocating $100 billion from the International Monetary Fund’s warchest to help countries struggling most to cope with the COVID-19 crisis, the White House said.

The issue will be on the table when G7 leaders discuss how to help steer the world’s recovery from the coronavirus pandemic at a three-day summit in Cornwall, in southwestern England, which begins on Friday.

“The United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in need,” the US president’s office said.

“At potentially up to $100 billion in size, the proposed effort would further support health needs – including vaccinations – and help enable greener, more robust economic recoveries in vulnerable countries, and promote a more balanced, sustained, and inclusive global recovery.”

French President Emmanuel Macron on Thursday called on the other G7 nations to find an agreement on reallocating $100 billion in SDRs to African states.

World finance chiefs agreed in April to boost SDRs by $650 billion and extend a debt-servicing freeze to help developing countries deal with the pandemic, although only $34 billion was to be allocated to Africa.

(This story has not been edited by our staff and is auto-generated from a syndicated feed.)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

All the data shown above will be stored by www.rajpostexam.com on https://www.rajpostexam.com/. At any point of time, you can contact us and select the data you wish to anonymise or delete so it cannot be linked to your email address any longer. When your data is anonymised or deleted, you will receive an email confirmation. We also use cookies and/or similar technologies to analyse customer behaviour, administer the website, track users' movements, and to collect information about users. This is done in order to personalise and enhance your experience with us. Click here to read our Cookie Policy.