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IMF Creates Record $650 Billion Slush Fund For Pandemic Relief

The International Monetary Fund (IMF) has approved a record $650 billion in special drawing rights (SDRs) to ‘help nations dealing with mounting debt and the fallout from the Covid-19 pandemic,’ according to Bloomberg, which notes that it’s the largest resource injection in the organization’s history.

The creation of the reserve assets — known as special drawing rights — is the first since the $250 billion issued just after global financial crisis in 2009, with IMF Managing Director Kristalina Georgieva billing it as “a shot in the arm for the world” that will help boost global economic stability. –Bloomberg

“The SDR allocation will benefit all members, address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy,” said Georgieva, framing it as a “shot in the arm for the world” which will contribute towards global economic stability.

(excerpt) Read the full article here: https://www.activistpost.com/2021/08/imf-creates-record-650-billion-slush-fund-for-pandemic-relief.html

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About the author

Chris Blackwood

These are the sporadic musings, rants, and ramblings of a middle aged man who isn't exactly thrilled with the direction that America is taking today. I'm extremely opinionated where politics are concerned.

I'm a common sense conservative and a political atheist. I follow politics closely, but I don't believe a word the government tells me. I call it like I see it and I don't mince any words. Life is too short to stay quiet.

Nope, this isn't just a kitty blog anymore, although there will be some of that too . . .

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It's all about the Caffeine & Kitty Treats

Chris Blackwood

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