IMF chief expects members to reach $100 bln target for shifting reserves to vulnerable countries
WASHINGTON, Oct 13 (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva on Wednesday said she expects advanced economies to reach their target of shifting $100 billion of $650 billion in newly created emergency reserves to countries in need.
Georgieva said she was encouraged by the IMF executive board’s consideration of a new Resilience and Sustainability Trust that would allow richer countries to donate or loan their share of the new Special Drawing Rights to more countries than just the low-income countries now eligible for such help.
The IMF chief said the fund was also putting in place measures to increase transparency about the use of any SDRs.
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