The International Monetary Fund (IMF) adopted a historical decision to restore the economy after the coronavirus pandemic and allocated additional reserve assets in the amount of 650 billion dollars. Statement is published on the organization’s website.
It is noted that the Executive Board on August 2 approved the allocation of special borrowing rights (SDR) – that is, the non-cash payment unit of the IMF, the value of which is daily determined relative to the key currency market rate, on an equivalent amount for increasing global liquidity.
Distribution will begin on August 23 for all members of the Foundation in proportion to their quotas. $ 275 billion will be supported by developing markets and low-income countries.
“This historical solution is the largest selection of SDR in the history of the IMF,” said the director of the Kristalina Georgiev Foundation.
Earlier, the International Monetary Fund in the report on the restoration of the global economy from the consequences of the coronavirus pandemic, predicted the world of high prices and more rapid, compared to conventional levels, inflation. According to the authors, new problems can be caused by additional logistics failures and increase in housing prices, as well as the devaluation of the currencies of developing countries, which will lead to the rise in price of imports in them.