U.S. Treasury official says IMF SDR lending pledges reach about $58 billion
Reuters
Published Jul 27, 2022 12:01PM ET
Updated Jul 27, 2022 12:26PM ET
WASHINGTON (Reuters) - Pledges from wealthier International Monetary Fund members to lend IMF Special Drawing Rights reserves to poorer countries through two IMF trust funds have reached about $58 billion, U.S. Treasury acting international affairs undersecretary Andy Baukol said on Wednesday.
Baukol told a U.S. Senate foreign relations committee hearing that more than a dozen countries have made pledges, including G7 allies, Spain, the Netherlands, China, Saudi Arabia and Australia, to channel part of last year's $650 billion SDR allocation to the IMF's Poverty Reduction and Growth Trust for low-income countries and the new Resilience and Sustainability Trust.
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Written By: Reuters
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