Don't miss

Replay


LATEST SHOWS

FOCUS

Young Nicaraguans lead protests against President Ortega

Read more

ENCORE!

Music show: Opera singer Lawrence Brownlee, Snow Patrol & Natalie Prass

Read more

TALKING EUROPE

EU Commissioner Johannes Hahn: 'Either we import stability, or we export instability'

Read more

TALKING EUROPE

From Italy to Cyprus via Hungary: A look back at key events in Europe

Read more

BUSINESS DAILY

US-China trade war is 'on hold'

Read more

#TECH 24

Is GDPR a good thing for EU tech companies?

Read more

PERSPECTIVE

'The internet is like water, we need to help children understand how to swim'

Read more

THE OBSERVERS

Horse massacres in Iran, fake news turning deadly in India, and Ivory Coast's drought

Read more

THE OBSERVERS

Iran's violent bird poaching, a Yemeni youth orchestra beneath the bombs, and more

Read more

Business

IMF approves $17 billion loan scheme for low-income countries

Text by FRANCE 24 (with wires)

Latest update : 2009-07-29

The IMF has approved a scheme to make available 17 billions dollars in zero percent loans to low-income countries until 2014. Dominique Strauss-Kahn, Managing Director of the IMF, explains the details in an interview with FRANCE 24 (video).

The International Monetary Fund on Wednesday said it was scaling up lending resources to poor countries by up to 17 billion dollars through 2014, and suspending interest payments through 2011.
  
The IMF executive board approved "unprecedented measures that will sharply increase the resources available to low-income countries in this time of global crisis," the multilateral institution said.
  
The sale of IMF gold will contribute to the increase in the institution's resources for concessional lending to low-income countries, it said.
  
In response to the worst economic crisis in decades, the IMF has already more than doubled its financial assistance to low-income countries.

 

In an interview with FRANCE 24, Director of the International Monetary Fund (IMF) Dominique Strauss-Kahn Strauss-Kahn reports that the IMF is honouring this commitment and an agreement has now been finalised.  For the full interview, please click on the video.

Date created : 2009-07-29

COMMENT(S)