G20 fails to reach an agreement on allocation of funds to poor nations2 min read . Updated: 20 Jul 2020, 06:13 AM IST
- The group failed to reach a consensus on the possibility of rich nations lending SDRs to the ones in need
- A fresh SDR issue would help countries facing forex crisis. But the US and India opposed the move
NEW DELHI : G20 finance ministers, at a meeting on Saturday, under the chairmanship of Saudi Arabia, failed to reach an agreement on the possibility of allocating fresh special drawing rights (SDRs) to member countries or reallocating SDRs from rich members to countries facing a liquidity crisis because of the covid-19 pandemic.
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