WASHINGTON: The International Monetary Fund’s (IMF) executive board has approved the creation of a new facility to help low-income and most middle-income countries deal with longer-term challenges such as climate change and pandemics.
IMF managing director Kristalina Georgieva announced the approval of the new Resilience and Sustainability Trust (RST) in a statement after the board meeting, and said it would take effect from May 1, with a goal of raising at least US$45bil (RM190bil).
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