IMF Puts Up USD100 Billion Financial Crisis Fund

The International Monetary Fund will provide up to USD100 billion to help mitigate the global credit crunch. Emerging countries hit by the current crisis such as Mexico, Brazil and Korea may access new three-month IMF loans that will not require tight policy changes including drastic budget cuts and interest rate increases. (“IMF Creates USD100 Billion Fund to Aid Crisis Fight” - Wall Street Journal, Oct. 30, 2008)

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