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WASHINGTON (Reuters) -The International Monetary Fund is exploring creation of a new trust that could allow its members to lend their IMF reserves to more countries, including middle-income countries vulnerable to climate change, IMF chief Kristalina Georgieva said on Sunday.
FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a joint news conference at the end of the Summit on the Financing of African Economies in Paris, France May 18, 2021. Ludovic Marin/Pool via REUTERS
Georgieva said leaders of the Group of Seven rich economies had given the IMF a ‘green light’ to keep working on the plan, and China - the world’s second largest economy - had also expressed interest, along with middle-income countries that stand to benefit from such a fund.
Even in the face of rising inflation, the lackluster progress on restoring jobs lost during the pandemic means the US Federal Reserve is unlikely to budge on monetary policy when it meets next week.
Investors will be zeroing in on the Federal Reserve’s monetary policy meeting next week as a "Goldilocks" market environment that has helped lift stocks to record highs and tamed a bond selloff is tested by rising inflation.
Compared with last years June, open interest is more or less same, but volumes in the derivative segment are down almost 30-40%. This indicates that intraday volumes have dried up, either due to peak margin requirements or lack of retail participants confidence at the current market levels.