IMF policy panel endorses $650 billion increase in resources

WASHINGTON (AP) — The International Monetary Fund has given the go-ahead to a $650 billion expansion of the resources of the 190-nation lending institution with the aim of providing more support for vulnerable countries as they battle the coronavirus pandemic. IMF Managing Director Kristalina Georgieva said the $650 billion increase in reserves would be the largest in IMF history and would provide badly needed reserves for poor countries struggling with deep recessions caused by the pandemic and the need to obtain and administer millions of doses of vaccines.