IMF loosens loan conditions amid food crisis

    The International Monetary Fund is exploring the possibility of softening its terms for loans through the Exogenous Shocks Facility to help poor nations cope with rising food costs. According to IMF Deputy Managing Director Takatoshi Kato, the agency hopes to come up with a resolution on the proposal as soon as possible. Kato said the IMF has been discussing with over 10 African nations on proposed financial aid under the relaxed lending process. (Source: IMF to Ease Loan Terms for Food Crisis-Hit African Nations/Jiji Press)

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