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As IMF sits for its spring meet, $4 billion could be offered to India to combat covid-19

city New Delhi India covid-19 pandemic economy Coronavirus
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NEW DELHI : India could be offered as much as $4 billion, if not more, by the International Monetary Fund (IMF) to combat covid-19 pandemic and arrest the economic slide, according to two sources familiar with the development.

The board of the multilateral funding agency meets this week to consider the proposal of doubling its emergency financing capacity to $100 billion and a part of that could come India’s way. “Although $4 billion will be emergency financing requirement that IMF will offer India, it is different from India’s quota of $13 billion in special drawing rights (SDR) at IMF," one of the sources said.

SDR are usually offered in times of balance of payment problems. The IMF board, comprising 24 executive directors (ED), will

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