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Tags: IMF | Lending | Resources | Billion | boost

Report: IMF Aims to Boost Lending Resources by $250 Billion

Monday, 19 July 2010 07:36 AM EDT

The International Monetary Fund (IMF) wants to boost its lending resources to $1 trillion from $750 billion in order to prevent future financial crises, the Financial Times said on Monday.

The paper, without citing sources, said the IMF wants to agree financing deals in advance that will be specially tailored to individual countries, rather than respond to crises with conditional loan packages.

"Even when not in a time of crisis, a big fund, likely to intervene massively, is something that can help prevent crises," IMF Managing Director Dominique Strauss-Kahn told the FT.

"Just because the financing role decreases, doesn't mean we don't need to have huge firepower ... a $1,000 billion fund is a correct forecast," he said.

The FT said South Korea, which currently chairs the Group of 20 leading economies, is hoping to convince the G-20 countries to back the plan at the next summit in Seoul in November.

© 2022 Thomson/Reuters. All rights reserved.


Headline
The International Monetary Fund (IMF) wants to boost its lending resources to $1 trillion from $750 billion in order to prevent future financial crises, the Financial Times said on Monday. The paper, without citing sources, said the IMF wants to agree financing deals in...
IMF,Lending,Resources,Billion,boost
151
2010-36-19
Monday, 19 July 2010 07:36 AM
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