Friday, December 12, 2008

Russia will help the IMF 750 million dollars.

Russia until the end of January 2009 will be able to provide the International Monetary Fund (IMF) about 750 million dollars. It is reported Interfax, citing the statement of representatives of the Russian Ministry of Finance.
In the Ministry of Finance said that the IMF itself will determine the need for these funds. This will depend on the number of countries that turn to the organization for help.
The IMF provides loans to States facing difficulties in relation to the financial crisis. Russia, as a member of the IMF before the end of November 2008 to provide fund approximately one billion dollars. However, the IMF has requested only a fraction of that amount, which undertook the first tranche of credit in Hungary.
In late October, the IMF has allocated 16.5 billion dollars in Ukraine, and in November - 15.7 billion dollars in Hungary. Also, the IMF loans were Pakistan, Iceland and Serbia. In December it was reported that the Latvian Government has agreed with the IMF about how to obtain financial assistance to stabilize its economy. The loan amount has not yet been reported.
IMF - a special UN agency, which focuses on overcoming short-term macro-economic crises. Total fund consists of 185 countries. The share of Russia's share of IMF is 2.49 percent.

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