Wednesday, September 9, 2009

India agrees to lend $10 b to IMF- Finance-Economy-News-The Economic Times

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    • India on Friday agreed to lend up to $10 billion to the International Monetary Fund (IMF) to help the financial institution raise enough funds to rescue nations facing financial trouble. India, which had to resort to IMF financing on a few occasions till the early nineties, is now doing its bit to help the lender raise $500 billion to help crisis-stricken countries as part of a consensus to stimulate world economy.
    • "This participation in IMF's debt would not load India and not further stretch its resources," said an official statement quoting finance minister Pranab Mukherjee's address to his counterparts from 20 industrial and developing countries in the ongoing G-20 meeting in London.