IMF to allocate $530 million to Azerbaijan

Azerbaijan will receive nearly $530,000,000 in special drawing rights (SDR) from the International Monetary Fund.

Report informs, citing the fund, that the amount is allocated as part of IMF's anti-crisis fund distribution.

The decision will benefit all member states, help meet the long-term demand for reserves, ensure sustainability and stability of the world economy.

The total amount to be distributed among the IMF's member states (190 countries) reaches $650 billion (456 billion SDR), including $275 billion for developing countries in the IMF's biggest distribution of funds on record.

The IMF Directors' Board approved the respective decision in early August.

Azerbaijan's quota in IMF makes 391.7 million SDR (nearly $555 million), and the share amounts to 0.08% of all funds.