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As the IMF warns that absolute global output will shrink by three per cent and that GDP will come in more than five per cent below expected levels, some experts caution that without support from the world's richest economies, some of the world's poorest countries will face catastrophe.

That's why James Boughton, senior fellow with the Centre for International Governance Innovation, a Waterloo-based think-tank, says wealthy governments must authorize the IMF to extend the use of special drawing rights (SDRs), non-dollar currency units held by the fund.

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