MAS contributes reserves to IMF pandemic funds


Singapore is contributing $20.6 million to International Monetary Fund (IMF) initiatives to support low-income countries hit by the Covid-19 pandemic.

The majority of the grant, $19.6 million, will be drawn from the Monetary Authority of Singapore’s official foreign reserves, the central bank said. A further $1 million will come from money Singapore already holds in IMF accounts.

The funds will help the IMF meet a surge in requests for financial assistance, the MAS said in a statement.


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