G7 eyes allocating $100 bln from IMF funds to COVID-ravaged nations
THE United States and other Group of Seven nations are considering reallocating $100 billion from the International Monetary Fund's war chest to help countries struggling most to cope with the COVID-19 crisis, the White House said. The issue will be on the table when G7 leaders discuss how to help steer the world's recovery from the coronavirus pandemic at a three-day summit in Cornwall, southwestern England, which begins on Friday. "The United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in…