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IMF board approves creation of new short-term liquidity line (Reuters)
IMF board approves creation of new short-term liquidity line (Reuters)
Last Modified: 10:37 PM, Wed Apr 15, 2020
15 April 2020
WASHINGTON (Reuters) - The International Monetary Fund (IMF) announced on Wednesday that its executive board had approved creation of a new short-term liquidity line to help member countries with strong fundamentals deal with the new coronavirus pandemic.
IMF Managing Director Kristalina Georgieva said the facility would provide a revolving and renewable backstop for member countries with very strong policies and fundamentals, who needed short-term and moderate support with their balance of payments.
She said the instrument would allow the Fund to provide revolving access of up to 145 percent of a country's quota, filling "a critical gap in the Fund's toolkit."
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Creditline: Reuters
Slugline: IMF-WORLDBANK/IMF-LIQUIDITY (URGENT)
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DataSource: The column 'Attributes' specified in the SEMANTICSIMILARITYTABLE, SEMANTICKEYPHRASETABLE or SEMANTICSIMILARITYDETAILSTABLE function is not full-text indexed with the STATISTICAL_SEMANTICS option. The column must be full-text indexed using the STATISTICAL_SEMANTICS option to be used in this function.