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IMF nations approve record $650bn to aid virus fight

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The International Monetary Fund approved the biggest resource injection in its history, with $650-billion meant to help nations deal with mounting debt and the fallout from the Covid-19 pandemic. 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 MD Kristalina Georgieva billing it as “a shot in the arm for the world” that will help boost global economic stability.

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