IMF unveils new trust to help ‘vulnerable’ countries ...Middle East

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WASHINGTON: The IMF plans to raise at least $45 billion for a new trust to help “low-income and vulnerable middle-income countries” cope with protracted challenges like pandemics and climate change, it announced Wednesday.The Washington-based crisis lender's Resilience and Sustainability Trust (RST) will come into effect May 1, and is in addition to a $650 billion boost to reserve assets called Special Drawing Rights (SDR) allocated earlier this year.“As the world is confronting consecutive global shocks, we must not lose sight of the critical actions needed today to ensure longer-term resilience and sustainability,“ IMF Managing Director Kristalina Georgieva said in a statement announcing t

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Last updated : 14 April 2022 clock 06:29 AM

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IMF unveils new trust to help ‘vulnerable’ countries ...Middle East

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