IMF Says It’s Ready To ‘Mobilize Its $1 trillion Lending Capacity’ To Fight Coronavirus

CNBC ^ | 03/16/20 | Thomas Franck

[Enlightened1]

• The IMF said it “stands ready” to use its $1 trillion lending capacity to help countries that are struggling with the economic impact of the coronavirus.
• “As a first line of defense, the Fund can deploy its flexible and rapid-disbursing emergency response toolkit,” wrote Kristalina Georgieva, Managing Director of the IMF.
• The IMF’s announcement comes ahead of what’s expected to be another dismal day on Wall Street despite a move by the globe’s central banks to ease monetary policy.

The International Monetary Fund on Monday said it “stands ready” to use its $1 trillion lending capacity to help countries around the world that are struggling with the humanitarian and economic impact of the novel coronavirus.

“As a first line of defense, the Fund can deploy its flexible and rapid-disbursing emergency response toolkit to help countries with urgent balance-of-payment needs,” wrote Kristalina Georgieva, Managing Director of the International Monetary Fund.

 

“The Fund already has 40 ongoing arrangements—both disbursing and precautionary—with combined commitments of about $200 billion,” she added. “In many cases, these arrangements can provide another vehicle for the rapid disbursement of crisis financing.”

Georgieva wrote on the IMF’s website that the lending could be used to aid its members, especially emerging and developing countries.

Further, the Fund’s Catastrophe Containment and Relief Trust “can help the poorest countries with immediate debt relief, which will free up vital resources for health spending, containment, and mitigation,” Georgieva wrote.

The IMF’s announcement comes ahead of what’s expected to be another dismal day on Wall Street despite a multilateral move by the globe’s central banks to ease monetary policy to help countries cope with the fallout of the coronavirus.

The Federal Reserve, for example, said on Sunday that it will embark on a...

[wny]

$1-trillion that doesn’t actually exist.

[Pearls Before Swine]

Not to be outdone by the Fed...

[dljordan]

You know what happens to countries that borrow from the IMF?

[PGalt]

Are L4 labs being shut down/quarantined/destroyed along with mass media amplifiers? Talk about WMDs DESTRUCTION/DISTRACTION. Right, Jorge?

[DesertRhino]

Translation, America is giving a trillion dollars to give to other countries

[thinden]

You know what happens to countries that borrow from the IMF?

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

sounds like a good question for soros?

or the biden gang?
or the clintonistas?