YEMEN Press Agency

IMF allocates $650 billion to revive the global economy

SANAA, Aug. 3 (YPA) – The International Monetary Fund (IMF) said, in a statement, that it had agreed to allocate $650 billion to revive the global economy, after the emerging epidemic of the Corona virus.

The statement, which was published on the fund’s website, added that the process of distributing these funds will begin on August 23, and special drawing rights will be available to all fund members in proportion to their shares.

The International Monetary Fund added that $275 billion has been allocated to developing markets and low-income countries.

For her part, the head of the International Monetary Fund, Kristalina Georgieva, described in a press statement this decision as “historic” and as “a vaccination for the global economy during an unprecedented crisis.”