IMF USD600 Billion Loan Scheme
Credit & Loan May 24th, 2010
JAKARTA – International Monetary Fund (IMF) announced a new loan scheme worth USD600 billion. The scheme was prepared for the state of liquidity drought.
Donor agencies based in Washington this project, there are 13 countries that potentially require schema. These countries will join 26 other states in the New Arrangements to Borrow (NAB).
“This agreement is important for the multilateral funding. The scheme will also help the effectiveness of the IMF in crisis response and help to strengthen the international financial architecture,” said IMF Managing Director Dominique Strauss-Kahn, as quoted by AFP on Wednesday (25/11/2009) .
He said, this scheme is more flexible loans than other schemes. This scheme is also claimed as an effective step in managing the financial crisis.
Countries that contribute to the scheme, namely the developed countries like the United States, United Kingdom, French, Japanese, and Italian. Also, developing countries like China, Brazil, and India.
