IMF Board Discusses Proposal to Allocate US$650 Billion for COVID-19 Crisis

The International Monetary Fund (IMF) Executive Board discussed the largest Special Drawing Rights (SDRs) allocation in history, the IMF spokesperson Gerry Rice said in a statement.

“Today the IMF Executive Board discussed a proposal for a new US$650 billion SDR allocation – the largest issuance in the IMF’s history aimed at helping its membership, especially the most vulnerable, overcome the COVID-19 crisis. The Board discussion is another step in the process toward a new SDR allocation which we expect to be completed by the end of August,” Rice said.