Singapore will raise its quota with the International Monetary Fund to 1.95 billion Special Drawing Rights . At the same time, the country will reduce its loan commitments to the IMF by 1.
41 billion SDR , according to the Monetary Authority of Singapore .
This follows the IMF’s aim to increase its member countries’ capital contributions while reducing its reliance on borrowing. For these changes to happen, at least 85% of IMF members must agree to their quota increases.
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