investing.com 09 Jan, 2021 03:30 am

IMF board, citing increased credit exposure risks, raises reserve target By Reuters

IMF board, citing increased credit exposure risks, raises reserve target

The fund's 24 executive directors increased the target to Special Drawing Rights 25 billion, or around $36 billion, from SDR 20 billion, or $29 billion, after a regular biannual review conducted at the end of October, the IMF said in a statement.The current target for precautionary balances of SDR 20 billion was also likely to drop below the indicative range this fiscal year and next.Given these developments, directors agreed to keep the minimum floor for precautionary balances - which include general and special reserves and a special contingent account - at SDR 15 billion and raise the medium-term target to SDR 25 billion, while continuing to monitor the situation carefully.FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen in Washington WASHINGTON (Reuters) - The Executive Board of the International Monetary Fund has agreed to raise the medium-term target for the fund's precautionary reserves given a sharp increase in financial risks since 2018, the IMF said on Friday.

"Credit outstanding has nearly doubled, including a surge in emergency financing without conditionality, and commitments under precautionary arrangements are higher than at the last review," the IMF said in its statement.World Bank chief, a Trump appointee, 'deeply appalled' by storming of Capitol p By Andrea Shalal WASHINGTON (Reuters) - World Bank President David Malpass, a former adviser to President Donald Trump, told his staff he was deeply appalled by the storming of.

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