IMF Begins New Loan Program for Countries With Strong Economies
22 Apr 09 | VOA News
The International Monetary Fund has begun a new program to provide emergency credit to governments with strong economic track records. Mexico became the first to qualify for the program last week, and two more countries, Poland and Colombia have applied for it. The IMF credit does not come with its traditional condition that governments have to change their economic policies.
When leaders of the world’s 20 major economies met in London early this month, they endorsed a new International Monetary Fund program for combating the global economic crisis.
Under the program launched in March, governments with sound economic policies can secure an immediate IMF loan in case of a threat to their financial system. >>>