U.S. Treasury official says IMF SDR lending pledges reach about $58 billion
2022.07.27 19:42
FILE PHOTO: US Undersecretary of International Affairs Department of Treasury Andy Baukol speaks during a side event on the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 14 July 2022. Made Nagi/Pool via REUTERS
WASHINGTON (Reuters) – Pledges from wealthier International Monetary Fund members to lend IMF Special Drawing Rights reserves to poorer countries through two IMF trust funds have reached about $58 billion, U.S. Treasury acting international affairs undersecretary Andy Baukol said on Wednesday.
Baukol told a U.S. Senate foreign relations committee hearing that more than a dozen countries have made pledges, including G7 allies, Spain, the Netherlands, China, Saudi Arabia and Australia, to channel part of last year’s $650 billion SDR allocation to the IMF’s Poverty Reduction and Growth Trust for low-income countries and the new Resilience and Sustainability Trust.