IMF says it’s ready to mobilize its $1 trillion lending capacity to fight coronavirus
(Worthy News) – The International Monetary Fund on Monday said it ‘stands ready’ to use its $1 trillion lending capacity to help countries around the world that are struggling with the humanitarian and economic impact of the novel coronavirus.
“As a first line of defense, the Fund can deploy its flexible and rapid-disbursing emergency response toolkit to help countries with urgent balance-of-payment needs,” IMF managing director Kristalina Georgieva said in a statement.
“The Fund already has 40 ongoing arrangements — both disbursing and precautionary — with combined commitments of about $200 billion,” she added. “In many cases, these arrangements can provide another vehicle for the rapid disbursement of crisis financing.” [ Source: CNBC (Read More…) ]
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