BAKU, Azerbaijan, August 3
By Klavdiya Romakayeva - Trend:
In accordance with the 0.116 percent quota, Uzbekistan can receive $754 million from the International Monetary Fund (IMF) for economic recovery, Trend reports citing IMF press service.
According to the information, the International Monetary Fund (IMF) has approved the allocation of $650 billion to help rebuild the global economy hit by the aftermath of the COVID-19 pandemic.
The fund notes that the decision will take effect on 23 August. Funds will be transferred to member countries in proportion to quotas. At the same time, about $275 billion will go to emerging market and developing countries, including low-income countries.
The IMF is also exploring other options to help poorer and more vulnerable countries in their recovery efforts.
"This is a historic decision - the largest distribution in the history of the IMF and a stimulus for the global economy during an unprecedented crisis," the fund's managing director Kristalina Georgieva said.
Georgieva also noted that the allocation of these funds will serve the benefit of all member states, help meet long-term global demand for reserves, build confidence, and help enhance the resilience and stability of the global economy.
in addition, the IMF expects the global economy to grow six percent this year and 4.9 percent next year.
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