We are worried about cheeseburgers and knife wielding children while they are robbing us blind in every way possible.
"IMF Managing Director Kristalina Georgieva said the $650 billion increase in reserves is the largest in IMF history. The move will provide badly needed reserves for poor countries struggling with deep recessions caused by the pandemic and the need to obtain and administer millions of doses of vaccines, she said.
By comparison, to combat the global recession that followed the 2008 financial crisis, the IMF agreed to an increase of $250 billion in the IMF's reserves of what are known at the agency as Special Drawing Rights.
U.S. Treasury Secretary Janet Yellen told the IMF panel that the SDR increase would provide a “much-needed boost to global reserves.” She said it would be important for rich countries who do not need the increase in resources to supply that extra support to poorer nations.
The idea of increasing IMF reserves gained support when the Biden administration endorsed the plan in February, marking a reversal from the Trump administration which had opposed the effort."
We are worried about cheeseburgers and knife wielding children while they are robbing us blind in every way possible.
"IMF Managing Director Kristalina Georgieva said the $650 billion increase in reserves is the largest in IMF history. The move will provide badly needed reserves for poor countries struggling with deep recessions caused by the pandemic and the need to obtain and administer millions of doses of vaccines, she said.
By comparison, to combat the global recession that followed the 2008 financial crisis, the IMF agreed to an increase of $250 billion in the IMF's reserves of what are known at the agency as Special Drawing Rights.
U.S. Treasury Secretary Janet Yellen told the IMF panel that the SDR increase would provide a “much-needed boost to global reserves.” She said it would be important for rich countries who do not need the increase in resources to supply that extra support to poorer nations.
The idea of increasing IMF reserves gained support when the Biden administration endorsed the plan in February, marking a reversal from the Trump administration which had opposed the effort."