UN Secretary-General Antonio Guterres on Tuesday welcomed the decision by the International Monetary Fund (IMF) to approve a 650-billion-U.S.-dollar allocation of its Special Drawing Rights (SDRs) to boost liquidity, said his spokesman.
This comes at a time when fiscal constraints have been worsened by the COVID-19 crisis, said Stephane Dujarric, the spokesman.
"The secretary-general notes that it will be important for the economies who do not need this boost to consider channeling these resources to vulnerable low- and middle-income countries that need a liquidity injection by replenishing the IMF's Poverty Reduction and Growth Trust Fund," said the spokesman.
It is also critical to quickly establish the proposed Resilience and Sustainability Trust at the IMF to support a comprehensive response and recovery, including providing more support for vaccinations and debt management and to support the efforts of developing economies in restructuring for inclusive growth, he said.
