G7 eyes allocating $100 bn from IMF funds to Covid-ravaged nations: US

The United States and other Group of Seven nations are considering reallocating $100 billion from the International Monetary Fund's warchest to help countries struggling to cope with the Covid-19 crisis, the White House said.

The issue will be on the table when G7 leaders discuss how to help steer the world's recovery from the coronavirus pandemic at a three-day summit in Cornwall, England, which began on Friday.

"The United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in need," the US president's office