The IMF plans to raise at least $45 billion for a new trust to help "low-income and vulnerable middle-income countries" cope with protracted challenges like pandemics and climate change, it announced Wednesday.
The Washington-based crisis lender’s Resilience and Sustainability Trust will come into effect May 1 and is in addition to a $650 billion boost to reserve assets called Special Drawing Rights allocated earlier this year. Around three-quarters of the IMF’s 190 members will be eligible to borrow from the new tool, it estimates.
They mean to cripple vulnerable countries
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