The Monetary Fund calls for increasing its financial resources in light, uncertainty of economy

The Director of the International Monetary Fund announced that the global economic outlook is still subject to a high level of uncertainty due to the repercussions of the Covid-19 epidemic. Kristalina Georgieva told reporters, quoted by Reuters said, the growing disparity between rich and poor countries requires the fund to find additional resources. The Fund Director explained that the approval of new allocations from the special drawing rights will help give countries more financial space required to address the health crisis and the transition to a digital and green economy. The administration of US President Donald Trump had refused to increase the funds of the IMF, claiming that this would be in the interest of the wealthier countries because the allocation would be proportional to their contribution to the Fund. Georgieva stated that the International Monetary Fund has rapidly increased concessional financing for emerging markets and developing economies, including donations of about $ 20 billion from existing special drawing rights.