UN Secretary-General Antonio Guterres lauded the allocation by the International Monetary Fund (IMF) of $650 billion of Special Drawing Rights to assist countries in facing the impacts of the COVID-19 crisis, the UN Office of the Spokesperson said in a statement on Tuesday.

“The Secretary-General welcomes the decision by the International Monetary Fund to approve a $650 billion allocation of its Special Drawing Rights to boost liquidity,” the statement said.

“This comes at a time when fiscal constraints have been worsened by the COVID-19 crisis.” Guterres said in the statement that it would be important for wealthy countries to consider channeling these resources to vulnerable nations in need of liquidity injection, the statement added.