The International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva said on Thursday that the $650 billion expansion of reserves will be the largest in the IMF’s history, as reported by Reuters.
“We need a recovery that works for all,” Georgieva added. “IMF members expressed strong support for the IMF at the centre of the global financial safety net,” she further noted and said they are encouraged that IMF members are willing to keep the IMF resourced adequately.
Earlier in the day, the IMF’s steering committee said in its communique the global economy was recovering faster than expected but reiterated the prospects for recovery remain highly uncertain and uneven within and across countries.
Market reaction
These remarks don’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was up 0.2% on the day at 4,088.
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