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- G20 agree to boost IMF war chest by $650 billion amid pandemic -draft
G20 agree to boost IMF war chest by $650 billion amid pandemic -draft
Reuters reports that a draft communique showed that the world's financial leaders will agree on Wednesday to boost the resources of the International Monetary Fund by $650 billion so it can better help vulnerable countries deal with the effects of the COVID-19 pandemic.
The draft also returned to a pledge to fight protectionism in world trade, a reference dropped since March 2016 on the insistence of the administration of former U.S. president Donald Trump.
G20 financial leaders will also agree to extend for a final time a debt-servicing suspension for the world's most vulnerable countries until the end of 2021, the draft showed.
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