IMF Approves $650 Billion Fund Expansion to Fight Pandemic Impact
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Washington (AP) -- The governing body of the International Monetary Fund has approved a $650 billion expansion in the agency's resources to support economically vulnerable countries battling the coronavirus pandemic and the economic downturn it has caused.
The 190-nation lending institution said Monday that its board of governors approved the expansion of its reserves known as Special Drawing Rights, the largest increase in the institution's history.