IMF opens short term lines of credit
The International Monetary Fund (IMF) will direct the resources to those economies suffering the most at finding financing.
Wednesday, October 29, 2008
The IMF announced yesterday its decision to increase its efforts to support those countries affected by the crisis, and is considering advancing liquidity for short periods, but on the condition that proper administration be of said funds be carried out.
The objectives of the Government and the IMF, with the approval of this credit, is to provide confidence for investors and to back up the country's financial system.
The Government is talking of the possibility of getting an emergency line of credit for $1 billion, however the IMF is cautious and has not released the amount it is studying.
The directory of the IMF approved a 14 month "stand-by" credit line, that will allow the country to tap $800 million.
The 16-month line of credit will strengthen the country’s international position and monetary reserves.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar