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IMF/POOR COUNTRIESBack
[Published: Monday October 05 2009]

Pledge for more IMF help for poor

London, 05 Oct-(ANA)-The French and British governments have announced a $4bn (£2.5bn) allocation to the International Monetary Fund to help poorer countries.

The money will go to the IMF's new loan facility to help countries which do not have enough money to pay for imports as a result of the economic crisis.

It will come from a $250bn (£157bn) allocation distributed a few weeks ago.

The money is essentially created by the IMF so, according to French ministers, there is no cost to the taxpayer.

The allocation of special drawing rights (SDRs) was agreed by the G20 summit in April.

IMF managing director Dominique Strauss-Kahn hailed the deal as "historic" and said he hoped other countries would follow suit. (ANA)

FA/ANA/05 October 2009---

 


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