Singapore to give $34.7M to IMF grants for vulnerable countries

SINGAPORE – The Singaporean Parliament on Feb 4 approved a contribution of US$34.7 million (S$44.1 million) to two International Monetary Fund (IMF) grants aimed at helping vulnerable member countries deal with economic shocks. The support will take the form of 25.48 million in special drawing rights (SDRs), an IMF-created asset that can be exchanged by