Both agreed that a new SDR allocation could form an important part of a package of support for low-income countries and could be vital for securing a truly global recovery, the statement added.
"It's probably right to think more about trajectories of debt levels, building resilience for future shocks and the affordability of that debt," Sunak told parliament's Treasury Committee.
Sunak's budget plan included no new budget rules which previous governments have set to show investors how they plan to bring down debt.
"As expected at this stage of the crisis, the budget statement provides only limited visibility on the government's medium-term fiscal strategy," Moody's lead sovereign analyst for the UK, Evan Wohlmann, said.
"That said, the statement confirms our view that the broad deterioration in the UK's fiscal position stemming from the pandemic will not be rapidly reversed," he added.
The corporate tax increase in 2023 will derail some of those expectations. The UK economy is expected to have explosive growth in 2022, but then quickly return to trend in 2023 at 1.7%, which is when the economy will face higher taxes."
"The positive impact the spending pledges has on growth has been somewhat offset by concerns of fiscal consolidation later down the line.
They added that Sunak must also help the economy -- which has shrunk by around 10 percent owing to the pandemic -- adjust to the "triple challenge" of Brexit, Covid and the green energy transition.
"You talked about interest rates and you're right interest rates have been at very low levels, which does allow us to afford slightly higher debt levels," Sunak said.
It said this will help the bank, which will launch in the spring and operate UK-wide, unlock billions in private finance to support 40 billion pounds of infrastructure investment.
"We are backing this bank with the finance it needs to deliver modern infrastructure fit for the 21st century and create jobs," said Sunak.
Sunak will use his annual budget on March 3 to move the policy to the end of June, bringing it in line with the easing of lockdown restrictions, the newspaper said.
"The corporation tax hike will be higher than expected and the extension of the support schemes will be longer than most people expect," the newspaper quoted a source as saying.
