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.

Have your say on this story