Sun, 2021-02-14 00:06
WASHINGTON/LONDON: Some Group of Seven (G7) countries are keen to back a new issuance of the International Monetary Fund’s own currency, known as special drawing rights (SDRs), to help low-income countries hit by the coronavirus crisis, a step last taken in 2009.
Officials from the US, the IMF’s biggest shareholder, had signaled they were open to a new issuance of $500 billion, sources said — another Biden shift away from Trump administration opposition.
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