![(FILES) In this file photo taken on March 27, 2020, an exterior of the International Monetary Fund (IMF) Headquarters in Washington, DC. Peru has secured a two-year, $11 billion credit line from the IMF as the South American nation battles the growing impact of the coronavirus pandemic. The Flexible Credit Line, which the IMF announced late on May 28, 2020, is a renewable funding mechanism granted to countries with strong economic policy track records. / AFP / Olivier DOULIERY](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/E7ZMEWY6XYYRH53AKXOSZB74DU.jpg?smart=true&auth=099d311beff91d6d34f64c8f49fcc70bb9771824a8c4bb7619b222b478a5ab38&width=400&height=225)
Special drawing rights are an international reserve asset created by the International Monetary Fund in the late 1960s. AFP
Special drawing rights are an international reserve asset created by the International Monetary Fund in the late 1960s. AFP
IMF board backs $650bn increase in reserves
The new allocation will particularly help vulnerable countries strengthen their Covid-19 response, says Kristalina Georgieva