Singapore is set to enhance its support for the International Monetary Fund’s (IMF) initiatives aimed at assisting vulnerable countries, as announced by the Monetary Authority of Singapore (MAS). The city-state plans to provide grants totalling Special Drawing Rights (SDR) 25.48 million, approximately US$34.7m, to the IMF’s Poverty Reduction and Growth Trust (PRGT) and the Trust for Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries (PRG-HIPC). This move is pending approval from Singapore’s Parliament on 3 February 2026.
The grants are part of Singapore’s commitment to support the IMF’s role in maintaining global economic stability. The PRGT, which offers concessional loans to low-income countries, will receive SDR 21 million from Singapore, drawn from MAS’ Official Foreign Reserves. Additionally, SDR 4.48 million will be allocated to the PRG-HIPC Trust to aid debt relief efforts in Sudan, utilising Singapore’s existing resources in IMF accounts.
In a broader effort, Singapore will also channel SDR 746 million, equivalent to about US$1,014.6m, from the 2021 SDR allocation as a loan to the IMF’s Resilience and Sustainability Trust (RST). This initiative aims to provide long-term affordable loans to address structural challenges like climate change and pandemic preparedness.
These contributions align with Singapore’s IMF quota share and underscore its commitment to collective global action. The grants and loans reflect Singapore’s strategic interest in supporting a stable global economic environment, crucial for its highly open economy.
