Economics
IMF Sees Approval of $650 Billion in Reserves by End of August
- Managing Director Kristalina Georgieva speaks in interview
- IMF chief sees rich-country interest to reallocate reserves
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International Monetary Fund Managing Director Kristalina Georgieva expects approval for $650 billion in new reserve assets by the board of governors by the end of August, boosting resources for nations dealing with the global pandemic.
The IMF is also working on ways to improve transparency of how the assets, called special drawing rights, or SDRs, are used, and how wealthy countries who don’t need the assets can pass them on to nations that do, Georgieva said Friday in an interview with Bloomberg Television’s David Westin.