U.N. chief calls for boosting resources for IMF, coordinated fiscal stimulus

U.N. chief Antonio Guterres called on Monday for more resources to be dedicated to the International Monetary Fund in a letter to the Group of 20 (G20) major economies seen by Reuters.

"I urge G20 leaders to consider the urgent launch of a large-scale, coordinated stimulus package in the trillions of dollars to target the direct provision of resources to businesses, workers and households in ... countries unable to do so alone," he wrote, proposing increased cash transfer measures, social protection, tax abatement, fiscal stimulus, low-interest rates, access to credit, insurance, and wage support schemes.