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Business 25 Mar 2021 | 7:00 AM

IMF mulls creating US$650bil in reserves after Yellen nod

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.