IMF Approves $100 Billion Proposals to Double Emergency Fund to Combat Coronavirus
April 09 2020 - 7:49PM
Dow Jones News
By George Mwangi
Special to Dow Jones Newswires
The International Monetary Fund approved proposals to enhance
emergency financing to $100 billion to meet its members' demands
due to coronavirus pandemic, the fund said Friday.
The funds will be channeled through the rapid financing
instrument to all members, and rapid credit facility available only
to low-income countries eligible for concessional financing, the
IMF said in a statement.
"As we are responding to this unprecedented number of calls for
emergency financing -- from over 90 countries so far -- doubling
access to our emergency facilities will help us to meet the
expected demand of about $100 billion in financing and provide
stronger support to our member countries in addressing the COVID-19
crisis," IMF Managing Director Kristalina Georgieva said.
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(END) Dow Jones Newswires
April 09, 2020 19:34 ET (23:34 GMT)
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