U.S. Treasury Secretary Janet Yellen on Friday said she does not see another allocation of International Monetary Fund emergency reserves to member countries as appropriate at this time, when more existing reserves need to be channeled to poorer countries.
Yellen told a news conference that the Treasury has asked the U.S. Congress for permission to lend $21 billion in existing U.S. Special Drawing Rights to IMF trust funds for low- and middle-income countries, and was hoping for approval.
- something akin to a central bank printing money - to help member countries grapple with overlapping health, food, energy and inflation crises. Yellen echoed that point, and said the United States was looking at other ways to help boost funding available to needy countries, including through grants to food security organizations and debt restructuring efforts.
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