IMF’s new credit line will fill “critical gap” – Georgieva
Short term liquidity line will grant member countries up to 145% of their quota
The International Monetary Fund has established a new short-term liquidity facility as part of its response to the Covid-19 pandemic.
“The facility will fill a critical gap in the fund’s toolkit and help to facilitate a more efficient allocation of resources,” said IMF managing director Kristalina Georgieva.
She said the credit line would act as a “revolving and renewable backstop” for member countries in need of “short-term moderate balance of payments support”.
The facility was approved by
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