WASHINGTON -- The International Monetary Fund (IMF) has approved a new general allocation of Special Drawing Rights (SDR) equivalent to 650 billion U.S. dollars, the largest in the IMF's history, in an effort to boost global liquidity amid the COVID-19 pandemic, according to a statement released Monday.
"This is a historic decision - the largest SDR allocation in the history of the IMF and a shot in the arm for the global economy at a time of unprecedented crisis," said IMF Managing Director Kristalina Georgieva.
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CANBERRA -- A biotechnology company in Australia has developed a tablet potentially capable of putting type 2 diabetes into remission.
"Gastric bypass surgery at the top of the small intestine, the duodenum, excluded it from the nutrient flow which seems to have a beneficial effect in controlling glucose," Chris Rayner, a University of Adelaide gastroenterologist, told News Corp Australia.
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LIMA -- Peru's foreign policy will promote Latin American integration based on the principle of mutual respect and reciprocal benefit, Peruvian Foreign Affairs Minister Hector Bejar said Monday.
"We will strengthen Latin American integration and cooperation, without ideological distinctions. We will revalue the Andean Community in its special economic, trade, social, cultural and physical integration aspects," Bejar said.
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WELLINGTON -- New Zealand Finance Minister Grant Robertson and Reserve Bank Governor Adrian Orr have updated the Memorandum of Understanding (MoU) on macro-prudential policy to further protect the financial system and support the government's housing objectives.
"This change will ensure that the Reserve Bank has the flexibility to respond to emerging financial stability risks and deploy appropriate tools as required," Robertson said on Tuesday.