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G20 backs $650 billion boost in IMF resources

G20 backs $650 billion boost in IMF resources

The Group of 20 major industrial countries issued a joint statement that also announced that agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion. This is aimed at providing support to poorer nations who have been hit by the Covid-19 pandemic. However, the proposal still needs approval from the IMF’s board and then contributions from member countries.

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G20 backs $650 billion boost in IMF resources

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