NEW YORK: The International Monetary Fund’s (IMF) board conveyed broad support for drafting a proposal to create US$650bil (RM2.68 trillion) in additional reserve assets to help developing economies cope with the pandemic, with an eye on considering a formal plan by June.
The institution’s executive board discussed the case for the reserves informally on Tuesday, IMF managing director Kristalina Georgieva said in a statement after the conclusion of the meeting.
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