US opposition to opening new avenues of funding for Iran and China is preventing the International Monetary Fund from deploying a powerful tool to help countries fight the economic impact of the coronavirus, according to two sources familiar with the matter.
The Trump administration does not want Iran and China to have access to billions of dollars in new resources with no conditions, two of the sources familiar with the IMF's deliberations said, asking not to be identified given the sensitivity of the issue. Doing so again now could provide more flexibility to the 102 countries that have already sought IMF emergency loans and grants, and allow aid to flow to high-debt countries that can't qualify for new IMF loans, such as Argentina and Zimbabwe.
Among these efforts is persuading wealthier countries to donate or lend their existing, unused SDRs to IMF lending facilities for poor countries. The Fund is trying to triple the resources in its Poverty Reduction and Growth Trust to US$18 billion, she said.
Donald Trump is super moron. It tragic to have him in charge in time like this
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US stalling massive IMF liquidity boost over Iran, China, say sources | Malay MailWASHINGTON, April 16 — US opposition to opening new avenues of funding for Iran and China is preventing the International Monetary Fund from deploying a powerful tool to help countries fight the economic impact of the coronavirus, according to two sources familiar with the matter. A massive IMF...
Source: malaymail - 🏆 1. / 86 Read more »
US opposition seen to stall major IMF liquidity boostUS opposes providing countries such as Iran, China with billions in new resources with no conditions. FMTNews US Liquidity IMF
Source: fmtoday - 🏆 5. / 72 Read more »
China, India to narrowly avoid recession in virus-hit 2020: IMFHONG KONG: Some of Asia's biggest economies are likely to narrowly avoid recession this year and are poised to bounce back strongly in 2021 if the coronavirus is contained, the IMF forecast Tuesday, with China leading the recovery. So whats our plan?
Source: NST_Online - 🏆 17. / 53 Read more »
US opposition seen stalling major IMF liquidity boost | Malay MailWASHINGTON, April 15 — US opposition is expected to prevent the International Monetary Fund this week from deploying one of its most powerful tools to help countries fight the coronavirus: creating a new allocation of Special Drawing Rights. The move, akin to a central bank “printing” new...
Source: malaymail - 🏆 1. / 86 Read more »
IMF approves US$1b in virus aid for Ghana | Malay MailACCRA, April 14 — The IMF has approved a US$1 billion aid package for Ghana to help the West African country manage fallout from the new coronavirus pandemic, the multilateral lender said. The credit is through the IMF’s rapid credit facility to help Ghana as growth falters and the...
Source: malaymail - 🏆 1. / 86 Read more »
Pentagon irked after 11 Iran Navy vessels corner US shipsThe much smaller speedboats ignored American warnings for an hour before leaving. FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »