Recently, G20 countries have supported an innovative Resilience and Sustainability Trust (RST) initiative launched by the International Monetary Fund (M).
The Resilience and Sustainability Trust (RST) will provide an opportunity to IMF member countries to provide loans to other countries, including middle-income countries, by using their IMF reserves.
The member countries of the IMF will provide this loan to them through the recently allocated $ 650 billion special drawing rights (SDR).
At the same time, it will also help these countries to meet the monetary and financial challenges arising due to the COVID-19 pandemic or climate change.
Source – The Hindu