About: http://data.cimple.eu/news-article/51ce310e26acf4c8d0528b1fa76e5e37b5632be42c06eecab9d18ef2

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/51ce310e26acf4c8d0528b1fa76e5e37b5632be42c06eecab9d18ef2 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	US Treasury Secretary Janet Yellen on Wednesday defended the IMF's move to increase its reserve offerings, calling the increased aid a "joint effort" to help the poorest nations hit by Covid-19. IMF Managing Director Kristalina Georgieva on Tuesday said the fund wants to increase its allocation of special drawings rights (SDR) by $650 billion with the aim of safeguarding the financial health of impoverished countries. Yellen defended the raise in response to questions from lawmakers on the Senate Banking Committee who were concerned the money would aid rich countries that don't need it, including Washington's rivals. "I would say that the current crisis has increased the need for global reserves, and that's the IMF's assessment. The global economy suffered a very severe, severe collapse in 2020," Yellen said in testimony alongside Federal Reserve Chair Jerome Powell. "This allocation will help countries meet this need for reserves." Yellen added that many countries intend to forgo their SDR increase in favor of poor countries, which would magnify the impact of the new allocations. Georgieva will submit her proposal to the IMF Board in June, which if approved would be the first SDR increase since 2009, amid the downturn caused by the global financial crisis. Finance ministers from the G7 richest countries, including the United States, agreed last week to support the IMF move. SDRs, created by the International Monetary Fund in 1969, play an influential role in global finance and help governments protect their financial reserves against global currency fluctuations. It is also used as the basis of loans from the IMF's crucial crisis-lending facilities. While not a true currency itself -- there are no SDR coins or banknotes -- the IMF uses it to calculate its loans to needy countries, and to set the interest rates on those loans. dt/jum/cs/cl
schema:headline	Yellen defends IMF reserve increase aimed at poor nations
schema:mentions	United States Secretary of the Treasury Great Recession Federal Reserve Group of Seven International Monetary Fund University of Washington Currency United States Coronavirus disease 2019 Janet Yellen Special drawing rights United States Senate Committee on Banking, Housing, and Urban Affairs Bank reserves Kristalina Georgieva Jerome Powell
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-24 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software