The International Monetary Fund (IMF) has approved distribution of USD 2.7 billion in remaining "windfall gold sales profits as part of a strategy to bolster the IMF's concessional lending vehicle for low-income countries and make it sustainable." IMF Managing Director Chrsitine Lagarde considered this a "major step towards putting our important concessional lending operations for low-income members on a sustainable footing." Lagarde said in a statement, late on Friday, that "during the 2009 financial crisis, we were able to boost financial assistance to our low-income country members, helping them weather the storm and preserve their hard-fought gains in the battle against poverty." "The strategy endorsed today by the Executive Board ensures the IMF is better positioned to help our low-income members absorb future shocks and underpin their efforts to achieve stronger and sustainable economic growth," she affirmed. According to the IMF, the resources are in addition to USD 1.1 billion "that have already been approved for a similar but separate operation to support low-income countries during the global financial crisis." Lagarde thanked and recognized "all those member countries that have stepped up to enable us to support our low-income members during the crisis, and call on our membership to demonstrate their commitment again by completing this global effort to provide the resources for our continued support in years to come."
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor