WASHINGTON, Jan 25 (Reuters) - A second issuance of International Monetary Fund reserves would not address the financing needs of developing countries because it would go mainly to rich countries and a new lending mechanism for existing reserves is still being developed, the IMF's No. 2 official told Reuters on Tuesday.
IMF First Deputy Managing Director Gita Gopinath said in an interview that she hoped for "concrete action" by the Fund's April Spring Meetings on the planned Resilience and Sustainability Trust.
Asked if a second SDR allocation would be beneficial, Gopinath said: "Because the SDR allocation is not very targeted, we don't think that that's the solution for this. So no." (Reporting by David Lawder Editing by Chris Reese)
