UN Secretary-General Antonio Guterres welcomed the allocation by the International Monetary Fund (IMF) of $650 billion of Special Drawing Rights to help countries cope with the impacts of the COVID-19 crisis, the UN Office of the Spokesperson said in a statement on Tuesday
UNITED NATIONS (Pakistan Point News / Sputnik - 03rd August, 2021) UN Secretary-General Antonio Guterres welcomed the allocation by the International Monetary Fund (IMF) of $650 billion of Special Drawing Rights to help countries cope with the impacts of the COVID-19 crisis, the UN Office of the Spokesperson said in a statement on Tuesday.
"The Secretary-General welcomes the decision by the International Monetary Fund to approve a $650 billion allocation of its Special Drawing Rights to boost liquidity," the statement said. "This comes at a time when fiscal constraints have been worsened by the COVID-19 crisis."
Guterres said in the statement that it would be important for wealthy countries to consider channeling these resources to vulnerable nations in need of liquidity injection, the statement added.
Establish the Resilience and Sustainability Trust at the IMF to support recovery is critical to providing more support for vaccinations and debt management, according to the statement.
