IMF Governors approved its largest Us$650bn SDR allocation

i.In order to boost global liquidity and to curb COVID-19 impact, the Board of Governors of the International Monetary Fund (IMF) has approved a general Allocation of Special Drawing Rights

(SDRs) equivalent to US$650 billion (about SDR 456 billion) w.e.f. August 23, 2021

ii.It is the largest SDR allocation in the history of the IMF

About International Monetary Fund

(IME)

Establishment– 1944

Managing Director– Kristalina Georgieva

Economic Counsellor and Research

Department Director- Gita Gopinath

Members– 190 Countries (Including

India)

Headquarters– Washington, D.C, United

States (US)

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