IMF Mulls Creating $650 Billion In Reserves After Yellen Nod

Inertia is being built to inject funds after US Treasury Secretary Janet Yellen leaned in to support the campaign, turning the opposition to President Donald Trump last year. Her predecessor, Stephen Mnuchin, blocked the move in 2020, saying that as reserves are distributed to all 190 IMF members in proportion to their quota, about 70% will go to the group of 20, with only 3% for the most underdeveloped nations.