US Democrats urge new $650B IMF aid for Ukraine’s war hit.

Key Democratic congressional allies are urging President Joe Biden’s administration to support a new injection of resources for affected countries from the IMF to help them deal with the fallout from Russia’s invasion of Ukraine, reported Bloomberg. Issuing at least $650B in additional IMF reserve assets known as special drawing rights, or SDRs, after a similar move last year would help Ukraine, its neighbors, and developing countries respond to the crises that they face on top of Covid-19, the lawmakers said. These include food shortages, rising energy prices, and weak vaccination rates in low-income nations.