IMF has allocated a record amount for economic recovery

The International Monetary Fund (IMF) will allocate SDR 456 billion (the unit of calculation of the fund itself, approximately $650 billion) from its reserves. The head of the organization, Kristalina Georgieva, said that this is a record amount of the fund's distribution in its history.

Georgieva stressed that the decision to inject the largest amount of funds into the world economy is historic.

It is noted that the funds will be transferred to the member countries of the fund in proportion to quotas. Of the $650 billion, a portion of $275 billion will go to developing countries and emerging markets. The IMF is confident that the disbursement will help meet the long-term global need for reserves, build confidence and strengthen the resilience of the global economy.

Recall, according to the July forecast of the IMF, the world economy this year will grow by 6%, next year – by 4.9%. For developing countries, the forecast was lowered by 0.4 percentage points – to 6.3%.