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The IMF has approved the allocation of ___ in Special Drawing Rights (SDR), being the largest allocation made by IMF considering the history of the organisation?
A)
$550 billion
B)
$650 billion
C)
$750 billion
D)
$850 billion

Correct Answer : Option (B) - $650 billion


The Board of Governors of the International Monetary Fund (IMF) has approved a general allocation of Special Drawing Rights (SDRs) equivalent to US $650 billion (about SDR 456 billion) on August 2, 2021, to boost global liquidity.
 
“This is a historic decision – the largest SDR allocation in the history of the IMF and a shot in the arm for the global economy at a time of unprecedented crisis. The SDR allocation will benefit all members, address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy. It will particularly help our most vulnerable countries struggling to cope with the impact of the COVID-19 crisis,” IMF Managing Director Kristalina Georgieva said.

Published On : August 4, 2021
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