IMF allocates $650 bn for restoration of global economy


August 3, Fineko/abc.az. The International Monetary Fund (IMF) has approved the allocation of additional reserve assets of the organization in the amount of $650 bn to help restore the global economy affected by the consequences of the pandemic.

ABC.AZ reports that it follows from Fund’s distributed statement that the decision will come into force on 23 August.

The finances will be transferred to the member countries in proportion to the quotas.

At that, about $275 bn will go to "emerging market and developing countries, including low-income countries."