Economics
IMF Chief Urges Greater Support for Poor Nations Fighting Virus
- Georgieva renews call for exploring boost to reserve assets
- Fund working to ensure low-income countries can get vaccines
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The International Monetary Fund called on its members to increase assistance to poor countries to deal with the Covid pandemic, saying that economic growth will be restrained until the virus is brought under control everywhere.
IMF members should look for ways to further expand concessional lending to help low-income nations speed vaccination, said Kristalina Georgieva, managing director of the fund. That means both steering existing reserve assets called special drawing rights, known as SDRs, to those nations, and exploring a new issuance of the assets, she said.