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Rich Countries Give IMF the Green Light to Boost Funding Through New Special Drawing Rights

File image of International Monetary Fund Managing Director Kristalina Georgieva. Brendan Smialowski / AFP

The IMF moved one step closer on Tuesday to providing developing countries with a badly-needed cash infusion after the fund was granted approval by wealthy G20 nations to proceed with the issuance of new so-called Special Drawing Rights (SDRs)

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