In August 2021, the International Monetary Fund (IMF) increased its allocation of special drawing rights (SDRs) to member countries by 456 billion units, equivalent to about US$650 billion. This ...

Following their efforts at the IMF and World Bank meetings in April, African finance ministers, have once again called for reforms to the SDR system during the general assemblies of the AfDB to ...

Monetary Fund (IMF) has deliberated its ability to respond to growing international financial turmoil in the wake of COVID-19. A historic US$650 billion was allocated to alleviate the growing fiscal ...

The World Bank estimates that COVID-19 could push between 143 and 163 million people into extreme poverty around the world in 2021, including nearly 50 million people in sub-Saharan Africa. And the ...

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday threw her support behind a new allocation of the IMF's own currency, or Special Drawing Rights, but said broad parameters were ...