G7 backs ‘sizeable’ IMF aid for COVID-hit poor nations

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Sat, 2021-03-20 01:16

LONDON: G7 finance ministers have agreed to support “sizeable” IMF aid for the poorest nations hit by the COVID-19 pandemic, Britain said Friday, vowing that no country would be left behind.
British Finance Minister Rishi Sunak’s upbeat declaration came after hosting an online gathering with counterparts from Canada, France, Germany, Italy, Japan and the United States.

SDRs, created by the International Monetary Fund in 1969, play an influential role in global finance and help governments protect their financial reserves against global currency fluctuations. (AP)
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