Ronaldo, 47, agreed with BPW Sports company to sell the 90% stake he acquired in 2021 for $70 million
football3 hours ago
The executive board of the International Monetary Fund (IMF) approved a $650 billion expansion in resources to support economically vulnerable nations as they battle the coronavirus pandemic.
IMF managing director Kristalina Georgieva said on Friday that the new support, the largest such expansion in the history of the 190-nation lending institution, would be a “shot in the arm for the world.”
To put the size of the funding expansion in context, the IMF approved a $250 billion boost in SDR reserves following the 2008 financial crisis.
It is a reversal of the stance taken by the Trump administration and it began in February when the Biden administration got behind the effort.
Republican members of Congress have objected to the funding, saying that the expanded IMF resources would benefit US adversaries such as China, Russia and Iran. However, the assistance has been strongly supported by international relief agencies.
Eric LeCompte, executive director of the religious-affiliated development group Jubilee USA Network, said that the IMF action would allow developing countries to immediately receive more than $200 billion in support.
“Wealthy countries who receive emergency reserves they don’t need should transfer those resources to developing countries struggling through the pandemic,” LeCompte said.
More than six months after vaccines became available, reported Covid-19 deaths worldwide have fallen to about 7,800 each day, after topping out at over 18,000 a day in January. The World Health Organisation recorded just under 54,000 deaths last week, the lowest weekly total since last October.
However, Covid-19 has illuminated global inequities as deaths worldwide climbed to 4 million, a milestone recorded Wednesday by Johns Hopkins University.
Vaccination drives are barely getting started in Africa and other desperately poor corners of the world because of extreme shortages of shots.
To fund the spending, the IMF will expand its Special Drawing Rights, a currency reserve that can be tapped by IMF member countries.
Ronaldo, 47, agreed with BPW Sports company to sell the 90% stake he acquired in 2021 for $70 million
football3 hours ago
The decision aims to ensure the safety of teachers as well as students across the country
uae3 hours ago
The facility had been targeted by a drone on Friday in which four workers were killed
energy3 hours ago
The airline will initially fly once a week between the two destinations
uae3 hours ago
Australia has invested heavily in women's cricket over the past decade
cricket3 hours ago
Try some local food that'll enchant your taste buds with a mix of legacy and contemporary flair
food4 hours ago
DP World has been actively expanding its footprint across the region
business4 hours ago
The rule allows teams to bring in one substitute at any time for a player in the starting 11
cricket4 hours ago