The executive board of the International Monetary Fund approved a USD650 billion expansion in resources to support economically vulnerable nations as they battle the coronavirus pandemic. IMF Managing Director Kristalina Georgieva said Friday that the new support, the largest such expansion in the history of the 190-nation lending institution, would be a shot in the arm for the world.To put the size of the funding expansion in context, the IMF approved a USD250 billion boost in SDR reserves foll

SAO PAULO: International Monetary Fund( IMF) managing director Kristalina Georgieva says she wants to shine a spotlight on the timelines and predictability of debt restructuring processes at the next meeting of the Global Sovereign Debt Roundtable in April. Georgieva told Reuters she hoped to make progress on the issue when the roundtable, which includes debtor countries and official and private creditors, meet in Washington in April during the spring meetings of the IMF and the World Bank.“ Do

The lending agency called Thursday for greater efforts from wealthy nations to boost coronavirus vaccination rates in poorer countries, while also urging the Federal Reserve and other central banks to respond quickly if current inflation pressures prove not to be transitory.... The group urged greater efforts by wealthy nations toward achieving a goal of having 40% of the population of all countries vaccinated by the end of this year and 70% by the middle of next year.... " We will take steps