WASHINGTON—The International Monetary Fund said on Friday it is still building support among members for a proposed Resilience and Sustainability Trust that would allow richer countries to channel their IMF reserves to countries in need, but hopes to see the new instrument up and running next year.
IMF officials have been racing to build support for the new trust, proposed by IMF chief Kristalina Georgieva in June, which would allow aid to countries outside the low-income nations served by the existing Poverty Reduction and Growth Trust.
