Market news
17.03.2021, 15:54

Still no deal on IMF reserve boost for pandemic relief

Reuters reports that G7 advanced economies are still discussing a proposal to boost International Monetary Fund reserves for pandemic relief, several sources close to the discussion said on Wednesday, dismissing a report that a deal had been reached.

Earlier, Japan’s Kyodo news agency reported they had secured agreement for increased reserves of around $650 billion through a new allocation of the fund’s special drawing rights ahead of a meeting of G7 finance leaders to be hosted by Britain on Friday.

A G7 source said that Friday’s call would deal with the matter but that “work needs to be done”.

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