International Monetary Fund increases commitment

Russia News.Net
Wednesday 25th November, 2009

The International Monetary Fund has increased aid to countries hit hard by the latest financial crisis to US$600 billion.

The Washington-based Fund said that an additional 13 potential countries had agreed to join 26 nations in committing money to the fund which was originally targeted at US$500 billion.

They also agreed to introduce more flexibility to the standing set of credit arrangements under which participants commit supplementary resources for IMF lending when needed.

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