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The International Monetary Fund increases its resources by $ 650 billion

Today, Friday, the International Monetary Fund decided to increase its resources by 650 billion US dollars so that the international lending institution can provide more support to countries at risk to combat the Corona pandemic.


The Director-General of the International Monetary Fund, Kristalina Georgieva, said that the increase in reserves by 650 billion dollars is the largest in the history of the International Monetary Fund.


She added that this step would provide much-needed reserves for poor countries suffering a deep recession due to the epidemic and the need to obtain and manage millions of doses of vaccines.


In the context, US Treasury Secretary Janet Yellen told the concerned IMF committee that the increase in private borrowing rights would provide "a much-needed boost to global reserves."


She added that it would be important for rich countries that do not need more resources to provide this additional support to poor countries.