US targets $650b in reserves to help low-income countries in Covid-19 crisis

Tourism.

Romanian tourists at the Moi International Airport, Mombasa. The pandemic has hit the tourism sector hard, denying countries much needed revenue. PHOTO | WACHIRA MWANGI

The US Congress is set to approve $650 billion in global reserves or Special Drawing Rights held by the International Monetary Fund.

The funds will provide temporary financial relief to low-income countries, especially in Africa, hard hit by the coronavirus pandemic.