Washington-Sana
The Executive Board of the International Monetary Fund announced today that it approved the creation of a new facility to help low-income and middle-income countries at risk deal with long-term challenges such as climate change and pandemics.
Reuters quoted the Managing Director of the International Monetary Fund, Kristalina Georgieva, as saying in a statement, “The Executive Board has approved the Trust Fund for Resilience and Sustainability,” noting that it will start working as of May 1.
It is noteworthy that the International Monetary Fund lowered its forecasts for global economic growth rates for 2022 to 4.4 percent from 4.9 percent, and for 2023, expectations reached 3.8 percent, down from 3.6 percent.
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