IMF proposed to double its emergency financial assistance to countries battling COVID-19 outbreak

IMF head Kristalina Georgieva has reported the international lender plans to use all its USD 1 trillion lending capacity to support countries across the world battling the deadly outbreak.

Daily Current Affairs Quiz 2020

Key-Points

In the first-ever virtual annual spring meeting of the IMF and the World Bank in Washington, the IMF announced its plans to double emergency financial assistance.

The IMF Board has already approved debt relief for 25 of its poorest members due to the COVID-19 crisis.

The G20 Finance ministers showed unanimous support for the Fund to raise more capacity for concessional funding for poor countries.