Friday, December 09, 2011

IMF funding is bilateral loans - Lagarde

At last some clarity on the IMF 200 Billion extra financing from Europe, Reuters  linked here, from which I quote the following:

EU countries also agreed to provide up to 200 billion euros ($266.24 billion)in bilateral loans to the International Monetary Fund (IMF) to help it tackle the crisis, with 150 billion euros ($199.68 billion) of the total coming from the euro zone countries.
"I appreciate this demonstration of leadership from Europe, and I am hopeful that others will also do their part," Lagarde said in a statement.
The nine non-euro states said they would consult their parliaments, where appropriate, on taking part in the process.
Britain, which has not adopted the euro currency, did not join in the agreement.

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