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G-20 Deal to Boost IMF Arsenal Nearing, Saudi Minister Says

  • Al-Jadaan said sees consensus in near future to help the poor
  • Trump administration blocked previous attempt to up reserves
Updated on

The world’s richest economies could reach a consensus soon to increase International Monetary Fund resources in what could be a landmark agreement to help developing countries that has faced opposition from the U.S.

Saudi Finance Minister Mohammed Al-Jadaan said on Friday the kingdom is pushing for consensus within the Group of 20 leading economies to back fresh resources to the global lender. Saudi Arabia will host the G-20 leaders in a virtual summit this weekend.