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 The International Monetary Fund is considering a $ 650 billion plan to build additional assets that will help the developing economy cope with the pandemic, with a view to finalizing a decision next month.

The institute's executive council discussed the proposal at an informal rate on Tuesday, and other priorities will be to determine how much will be paid to the so-called special drawing units, according to individuals, who spoke on condition of anonymity. Attention is now focused on the release of $ 650 billion, according to people, following a previous $ 500 billion deal.

The IMF press office declined to comment. IMF chief Kristalina Georgieva is expected to issue a statement after the meeting, said one of the people.

Momentum has been building for investment since the U.S. Treasury Secretary. Janet Yellen relied on support for the move, turning the opposition last year under President Donald Trump. 

His predecessor, Steven Mnuchin, banned the practice in 2020, saying that because the reserves were allocated to all 190 IMF members according to their quota, another 70% could go to Group 20, and then 3%. only the poor are still developing nations.

The IMF intends to make an official announcement of the construction of the park at its spring meetings on April 5-11, according to people. G-20 finance ministers and central bankers last month called on the fund to make a proposal, and the Group of Seven countries last week said they were withdrawing a large portion of IMF resources to raise member funds and provide funding to vulnerable countries.

More than 200 groups, including the Jubilee USA Network, a non-profit organization that promotes debt reduction in developing countries, have called on the G-20 to support the construction of $ 3 trillion in SDRs. They say funding is needed to provide debt relief in developing countries and to help free health care and social services. Some Democrats in Congress had promised equal support.

But the issuance of the SDR of about $650 billion could be almost the highest level that the US could fund without the approval of Congress, depending on the exchange rate. French Hill's Arkansas Republican spokesman for the House of Representatives Committee has called on the opposition to "expedition," calling for rich countries and violent states "such as China, Russia, and Iran.

Georgieva, who first advocated for the release of water storage facilities last year, called for stronger measures to avoid a situation where a few emerging markets are recovering rapidly but many developing countries remain in crisis for years to come. The IMF last released SDRs during the global financial crisis in 2009, and repeating the move could help the world again, Georgieva said in a blog post last month.