site.btaBulgaria to Contribute USD 6.7 Mln to IMF's Poverty Reduction and Growth Trust

The cabinet approved Bulgaria's participation in an International Monetary Fund (IMF) initiative to raise money for the Poverty Reduction and Growth Trust, the Government Information Service said on Friday. The country will contribute 5 million special drawing rights (about USD 6.7 million), to be secured from the 2024 state budget.

On Thursday, IMF Spokesperson Julie Kozack told a regular press briefing that her institution believes it is "vital" for its shareholders to reach a deal this year to increase its quota-based lending resources to deal with growing global economic shocks, Reuters reported. Kozack said the Fund's quota review will be a hot topic at the IMF-World Bank annual meetings next month in Marrakech, Morocco.