IMF Mulls New Lending Arrangement in Crisis Situations

    The International Monetary Fund is looking at creating a new multibillion-dollar lending arrangement that it would employ during crisis situations, The Wall Street Journal reports.

    The “multicountry credit line” will offer financing to groups of countries, rather than individual nations, which the fund deems to be in peril during financial crises. The countries, then, will not have to request the assistance.

    “The fund would declare there’s a systemic problem and here’s line of credit for the following countries,” a senior IMF official said.

    About the author

    • Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.