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G-20 Moves Toward Consensus on IMF Reserve Firepower Boost

  • Finance ministers and central bankers discussed plan on Friday
  • Final decision likely closer to IMF spring meetings in April
Updated on

The Group of 20 nations on Friday moved closer to an agreement on boosting International Monetary Fund reserves to help poor nations devastated by the global pandemic, according to officials familiar with the discussions.

Talks focused on a proposal for a $500 billion allocation of the IMF’s special drawing rights, but the final decision likely will come closer to the lender’s spring meetings in April, the officials said, asking not to be identified before a public statement.