Economics
IMF Nears Final Approval of $650 Billion Reserve-Boost Plan
- Georgieva taking SDR proposal to board after executive concurs
- New allocation to members would be biggest in fund’s history
Kristalina Georgieva
Photographer: Bloomberg/BloombergThis article is for subscribers only.
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The International Monetary Fund neared final approval to create a record $650 billion of new reserves, as Managing Director Kristalina Georgieva said she will present the proposal to the institution’s board of governors to pave the way for issuing the funds by the end of August.