⁍ IMF Managing Director Kristalina Georgieva said IMF member countries will need to make more contributions to concessional lending for poor countries.
⁍ Georgina said IMF can continue lending for now through the Poverty Reduction and Growth Trust based on Special Drawing Rights contributed so far by rich countries.
⁍ ‘I expect a positive response, but that is our next campaign,’ she said.
– The International Monetary Fund will need more money from its member countries if it wants to continue lending to poor countries, Reuters reports. IMF Managing Director Kristalina Georgieva said Friday that the fund can continue lending for now through the Poverty Reduction and Growth Trust based on Special Drawing Rights contributed so far by rich countries, but additional contributions will be needed. “To keep the terms as concessional as they have been … and to keep repayment at the longer 10-year maturity that we have for low-income countries, we need to get from our members what we call subsidies resources and that is our next call into the membership,” Georgieva said. “I expect a positive response, but that is our next campaign.”
Source: https://www.reuters.com/article/imf-georgieva/imfs-georgieva-says-more-funds-needed-to-expand-concessional-loans-to-poor-countries-idUSW1N2BK00P