WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva on Tuesday said she would present the IMF’s board with a formal proposal for a possible $650 billion expansion of the Fund’s emergency reserves by June.
In a statement released late on Tuesday, Georgieva said new allocation of SDRs, the IMF’s own currency, would add a substantial, direct liquidity boost to countries, without increasing their debt burdens.
It would also free up resources for member countries to help fight the coronavirus pandemic, support vaccination programs and other urgent measures, she said.
(Reporting by Andrea Shalal and David Lawder; Editing by Chris Reese)
