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Why IMF Help for Poor Nations Will Benefit Rich Ones
The International Monetary Fund’s member nations are nearing their biggest resource injection in its history, $650 billion, to boost global liquidity and help emerging and low-income nations deal with mounting debt and Covid-19. The choice of vehicle — reserves known as special drawing rights, to be allocated on Aug. 23 — has drawn some criticism. U.S. President Joe Biden reversed the stance of his predecessor, Donald Trump, that the IMF plan didn’t do enough to target the aid to poorer countr
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