The International Monetary Fund is going into overdrive heading into its spring meetings next week as the global pandemic spurs urgent aid requests from a record number of developing countries.
IMF Managing Director Kristalina Georgieva is focused on winning board approval for tools to lend money as quickly as possible. One plan would double the $50 billion available through two emergency financing mechanisms because countries have requested about half the existing resources already. Another would make available short-term loans to a small group of strongest nations to avoid a cash crunch.
