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Over 200 civic groups urge G20 to back IMF issuance to help poor countries in pandemic

India Italy Burma covid-19 president pandemic
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IMF's own currency, or Special Drawing Rights, to help countries weather the Covid-19 pandemic.In an open letter to the International Monetary Fund and G20 finance ministers, the groups said a new allocation of SDRs would boost the reserves of all countries and avoid pushing low- and middle-income countries further into debt distress.Also Read | India’s tricky options in the Myanmar muddleG20 finance ministers and central bankers will discuss a possible SDR issuance - a move akin to a central bank printing money - when they meet by video conference on Friday.

Proponents note that such a move will not add cost for the IMF members.Italy, which leads the G20 this year, is pushing for a smaller $500 billion allocation of SDRs, which can be.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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