This will be done through the International Monetary Fund - subject to Parliament's approval on April 5 - the Monetary Authority of Singapore said on Wednesday .These are the IMF's Catastrophe Containment and Relief Trust, the Covid-19 Crisis Capacity Development Initiative and the Trust for Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries.
Alongside other member countries' contributions, Singapore's grant contributions in response to the IMF's request also demonstrates our support for collective global action to help the most vulnerable countries." MAS said the amounts that Singapore aims to contribute are commensurate with the Republic's IMF quota share - a metric which determines the maximum amount of financial resources a member is obliged to provide, reflecting the country's relative position in the world economy.
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