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IMF approved Historic Allocation of $650 billion of SDR

Published on August 04, 2021
Current Context: The International Monetary Fund (IMF) has approved the allocation of $650 billion in Special Drawing Rights (SDR).
IMF approved Historic Allocation of $650 billion of SDR
  • It is the largest allocation made by IMF considering the history of the organisation.
  • The allocation is made to help the countries to tackle pandemic COVID-19 and boost global liquidity.
  • The allocation will come into effect from 23rd Aug 2021.
  • The SDR will be credited to IMF member countries in proportion to their existing quotas in the Fund.
  • Static Part: 
    • HQ of IMF: Washington, D.C. U.S
    • MD and Chairman of IMF: Kristalina Georgieva
    • Chief Economist of IMF: Gita Gopinath.

Question: 

Q.1 The IMF has approved the allocation of ___ in Special Drawing Rights (SDR), being the largest allocation made by IMF considering the history of the organisation?
a. $750 billion
b. $550 billion
c. $450 billion
d. $650 billion
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