RIO DE JANEIRO, BRAZIL - The International Monetary Fund (IMF) has provided US$15 billion for Brazil to use for managing its international reserves. The funds will be available as of August 23.
These resources are part of the US$650 billion allocated by the fund to member countries to stabilize their economies after the impact of the pandemic, with allocation based on each country's quota in the IMF.
The amount was set aside for Brazil in the form of Special Drawing Rights (SDRs), assets created by the IMF based on a basket of currencies (dollar, yen, yuan, pound and . . .