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- G7 eyes allocating $100 billion from IMF funds to COVID-ravaged nations - US
G7 eyes allocating $100 billion from IMF funds to COVID-ravaged nations - US
Reuters reports that White House said that the United States and other Group of Seven nations are considering reallocating $100 billion from the International Monetary Fund's warchest to help countries struggling most to cope with the COVID-19 crisis.
The issue will be on the table when G7 leaders discuss how to help steer the world's recovery from the coronavirus pandemic at a three-day summit in Cornwall (England), which begins on Friday.
"The United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in need," the U.S. president's office said.
French President Emmanuel Macron on Thursday called on the other G7 nations to find an agreement on reallocating $100 billion in SDRs to African states.
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