UNITED NATIONS (Pakistan Point News / Sputnik - 29th September, 2020) UN Secretary-General Antonio Guterres on Tuesday called on the international community to increase the resources available to the International Monetary Fund (IMF) in order to help vulnerable countries overcome the economic crisis caused by the restrictive measures amid the novel coronavirus pandemic.
"The crisis has snatched lives and livelihoods and taken an unprecedented toll on economies, particularly in the countries and communities least able to cope," Guterres said in a statement. "The international community should also increase the resources available to the International Monetary Fund, including through a new allocation of Special Drawing Rights and a voluntary reallocation of existing Special Drawing Rights."
Guterres said that the purpose of the IMF is to assist fragile economies in getting back on their feet at times of global crises; however, the needed "massive" support and solidarity have not been extended yet.
"We will not see a global recovery until we have stopped the virus in its tracks," Guterres added.
