InfoAnda - IMF provides $250 bln cushion against global crisis

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Google to give staff a 10 percent pay rise: reports | | 10 November 2010
Mexican election watchdog under pressure in Sunday's vote | | 30 June 2012
Obama demands stimulus action but Republicans want changes | 3 February 2009

Syrian cartoonist paid price for getting personal | | 21 March 2012

Forum Views () Forum Replies ()

Read more with google mobile : IMF provides $250 bln cushion against global crisis

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: IMF provides $250 bln cushion against global crisis AFP - Friday, August 14 WASHINGTON (AFP) - - The International Monetary Fund said Thursday it would soon inject 250 billion dollars into member nations' coffers to cushion the blows of the global economic crisis. ADVERTISEMENT Employing a rarely used tool, the IMF said its board of governors approved the allocation to its 186 members "to provide liquidity to the global economic system by supplementing fund's member countries' foreign exchange reserves." The action is part of a 1.1 trillion dollar plan agreed by Group of 20 leaders in early April to tackle the global financial and economic crisis. The G20 also planned to triple IMF resources to 750 billion dollars. "The general SDR allocation is a key example of a cooperative multilateral response to the global crisis, offering significant support to the fund's members in this challenging period," the IMF said. The board of governors, representing all members, approved the plan to allocate Special Drawing Rights (SDRs) equivalent to 250 billion dollars, by far the largest general SDR allocation in the institution's six-decade history. The disbursement takes effect on August 28. An SDR is an interest-bearing IMF asset based on a basket of international currencies -- the dollar, yen, euro and pound -- that is calculated daily and which members can convert into other currencies. The IMF has explained that some members may choose to sell part or all of their allocations to other members in exchange for hard currency -- for example, to meet balance of payments needs -- while other members may choose to buy more SDRs as a means of reallocating their forex reserves. The global economy is beginning to pull out of the worst recession since World War II, the IMF says, but it expects recovery will be sluggish and financial systems remain fragile. The board of governors approved the special SDR allocation on August 7, following its July 17 endorsement by the executive board. The operation will increase each member country's allocation of SDRs by roughly 74 percent of its quota in the fund, which is broadly based on the member's relative size in the global economy. The distribution dwarfs the total 21.4 billion SDRs (33 billion dollars) allocated in yearly installments through two previous general allocations: 9.3 billion SDRs in 1970-1972 and 12.1 billion in 1979-1981. The IMF also announced a special SDR allocation of 33 billion dollars would be made on September 9. The special allocation was authorized by an amendment to the IMF Articles of Agreement proposed in September 2007. On August 5 the United States joined 133 other members in supporting the amendment, meeting the majority threshold. "The special allocation will make the allocation of SDRs more equitable and correct for the fact that countries that joined the fund after 1981 -- more than one fifth of the current IMF membership -- had never received an SDR allocation," it said. Thirty-nine countries have joined the IMF after 1981, including Russia, the former Soviet bloc countries and Switzerland. The largest of the new SDR allocations will go to the most advanced economies because of their relatively heavier quotas. The United States, the biggest stakeholder, will get a combined SDR allocation of 30.4 million SDRs, or roughly 47.3 billion dollars. The IMF underscored that "nearly 100 billion dollars of the general allocation will go to emerging markets and developing countries, of which low-income countries will receive over 18 billion dollars." The general and special allocations will bring the members' total to 204 billion SDRs, about 316 billion dollars. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Enlarge Photo Foreign currencies displayed on a glass panel at a money-changer booth. The International Monetary Fund said Thursday it would inject 250 billion dollars into member nations' foreign exchange reserves to boost liquidity amid the global economic crisis. Most Popular – Top Stories Viewed Burglars steal $15m from Saudi princess Sweden's Princess Madeleine to marry: palace Rare flowering of Chinese tree in Belgium US study uncovers powerful anti-cancer compound Perseid meteor showers heading your way View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Friday, 14 August 2009
Suicide bombers kill 18 in northern Iraq
Teenager kills parents, brothers in Corsica
Zune HD in stores in September
Karzai rival tells huge crowd Afghan race not over | International |
Double suicide bombing kills more than 20 in Iraq
US retail sales' surprise dip clouds recovery
Fidel Castro turns 83 with economy on his mind | International |
Some Iran detainees were tortured to death
Violence threatens Afghan polling stations: officials
18 killed in Iraq suicide bombing
Chocolate 'cuts death rate' in heart attack survivors
UN expert receives claims of prison abuse in Iran
U.N. experts deplore alleged torture of inmates in Iran
Suicide bombers kill 18 in northern Iraq | International |
Israel dragnet on report Palestinians grab soldier | International |
Microsoft prices Zune HD below iPod | Technology |
Obama to attend APEC conference in Singapore
Hotel puts partial blame on victim in 2006 rape
Asian Web connections set to resume by end of Thursday | Technology |
1 killed, 2 injured in Detroit police chase
Utah paper rejects same-sex wedding announcement
FAA, air traffic controllers agree on new contract
'Death to Obama' sign holder in Md. detained
American service member killed in Afghanistan
Karzai orders Afghan forces election cease-fire
Priest's anti-gang program in budget crisis
Poll: Pakistanis oppose Taliban, still revile US
Happy birthday, Abe _ here's a shiny new penny
China chemical plant explosion kills at least 3
7 plead not guilty to slaying Fla. couple at home
Marine mission to protect Afghans slows progress
Pakistan pounds Taliban commander's bases, 12 die
LA man convicted of mom's murder freed from prison
Taiwan deploys extra troops, anger over rescue grows
Taiwanese hauled to safety across raging river
Pakistan helicopter gunships kill 11 Taliban
India, Southeast Asian bloc sign free trade deal
Pakistan's forex reserves rise to $11.85 bln
Legendary guitarist, inventor Les Paul dies, age 94 | Entertainment |
Rings director Peter Jackson moves on to District 9 | Entertainment |
Mike Tyson says in denial over daughter's death | Entertainment |
Jackson estate expected to balloon by $200 million | Entertainment |
Character actor John Quade dies at 71
Indonesia police find new bomb cache
Dan Tyminski Band leads bluegrass nominees
Pop star Teddy Afro freed from jail in Ethiopia | Entertainment |
`Mortgage Meltdown' tackles housing market slump
Jackson's glittery moonwalk glove to be auctioned
Organizers drop plan to change Emmys format | Entertainment |
Maoists' fall brings Miss Nepal back to life
Israelis, Palestinians play Beethoven's 'Fidelio' in Salzburg
Decline in Asian travel seen slowing: Abacus
German fashion label Escada declares bankruptcy
Spain approves pay digital TV
A cup of tea really does help in a crisis: study
Israeli military says all troops accounted for
11 killed in attack in Russia's Dagestan region: reports
Karzai rival tells huge crowd Afghan race not over | International |
IE 8 is Microsoft's champion in browser wars
Millions of salmon fail to turn up in Canada
Troop rise in Afghanistan still option for US: Gates
US study uncovers powerful anti-cancer compound
Taiwan leader says more than 500 dead in typhoon | International |
Volkswagen, Porsche seal merger deal: companies
U.S. video game sales down 29 percent in July: report
Climate change fueling forest fires in Europe: Greenpeace
IMF provides $250 bln cushion against global crisis
Microsoft courts Macintosh business crowd
Iran candidate says prisoners tortured to death
Exploding iPhone incident follows iPod reports
N.Korea says door always open to U.S. for talks | International |
112 jobs cut at San Diego newspaper
EU strengthens Myanmar sanctions over Suu Kyi trial | International |
Seven women shot dead in Russian sauna | International |
18 killed in Iraq suicide bombing
Les Paul, guitar revolutionary, dies at 94: company
Asian Web connections set to resume by end of Thursday
Australia PM says no intention to call snap poll | International |
Germany, France lead march out of recession
U.S. to resume training Georgian army | International |
U.S. video game sales down 29 percent in July: report | Technology |
Deadline for U.S. broadband grants, loans extended | Technology |
Asian Web connections set to resume by end of Thursday | Technology |
Senior China official calls for social stability
Microsoft, Nokia form alliance to rival RIM | Technology |
Bill Clinton: GOP promotes fear over health care
Taiwan leader says more than 500 dead in typhoon
Runaway Christian convert claims life is in danger
Hyundai boss extends NKorea visit after worker freed
Several wildfires scorch Calif. as thousands flee
UN fails to agree tough response to Suu Kyi verdict
San Francisco area rail union sets Monday strike
Australia PM says no intention to call snap poll
U.S. to resume training Georgian army
Indian teen shines, Austrian pair leave in fear
U.S. sees growing backing for N.Korea sanctions
Defense gives judge murderer's written confession
Controversial Internet filter optional, says top Chinese official
Obama's aunt: The president was born in Hawaii
Lee and Kiradech share Queen's Cup lead
17 indicted in San Diego murder-kidnap ring
US defends plan to use Colombian military bases
New lead limits big concern for small businesses
SKorea court convicts ex-Samsung boss over bond deals
District 9 touches down | Entertainment |
Korean Air swings to net profit in Q2
Toronto fest adds Portman, Bening films to lineup | Entertainment |
Guitar heroes in tune for Loud music documentary | Entertainment |
Offshore holdings of NZ govt debt fell in July
Online news venture says over 500 publications sign up
Taiwan dollar up for 2nd straight day on stock gains
Polish nationalists blast planned Madonna concert | Entertainment |
President: Indonesia must unite against terrorism
Korean Air swings to Q2 net profit, misses f'cast
Indonesia president
Seoul shares rise as techs, banks advance
Writer McQuarrie tapped for Wolverine sequel | Entertainment |
Meat Loaf, Ace Frehley to lead rock fantasy camp | Entertainment |
S.Korean bonds rebound on weak U.S. data
Mariah Carey returns to studio, delays album again | Entertainment |
Seoul shares rise after U.S. gains, N.Korea news
WRAPUP 1-NZ retail sales post first rise in 2 years in Q2
US-ENTERTAINMENT Summary
Toronto fest adds Portman, Bening films to lineup
Timor gears up for gruelling cycle race challenge
Jeremy Piven can't sell "The Goods"
Meat Loaf, Ace Frehley to lead rock fantasy camp
Scientists link gene to time spent sleeping
Aerosmith cancels summer tour after Tyler's fall
Burger beefs up business at Montana restaurant
NBC's `Meet the Press' retakes Sunday lead
Polish nationalists blast planned Madonna concert
Reformers call for probe of Iran supreme leader
Merkel, Medvedev meet on struggling German firms
Libyan drops second appeal over Lockerbie bombing | International |
US-TECH Summary
Vote school for illiterate Afghans
Eurozone prices mark record fall in July: EU
Asian-backed consortium eyes British Land deal: report
Medvedev rules out better ties with Ukraine's leader | International |
Medvedev, Merkel talk economy, human rights | International |
Recession-hit Spain sees drop in migrants | International |
Palestinian Fatah elects new party assembly | International |
CORRECTED: Medvedev, Merkel condemn Chechnya killings | International |
Somalia tells all visitors to seek government approval | International |
Remote Russian region builds on billionaire's legacy | International |
Hardline Iran cleric urges tough stance on detainees | International |
Gingrich & Sharpton work with Duncan on education
Lockerbie bomber drops appeal against conviction: lawyers
Clinton: US sent 'tough love' message to Africa
U.S. senator in Myanmar, may meet junta leader
SC Gov. Sanford goes to Fla. for reserve duty
2 rockets fired at Kabul airport; no casualties
Residents on edge as 9 women vanish from NC city
China 'sacks nuclear chief' over graft probe
U.S. business welcomes Obama export control review | Technology |
HK finds 2nd Tamiflu-resistant swine flu case
Archie-Veronica wedding story line irks collector
Indonesian leader defiant in face of 'assassination' plot
The Nation's Weather
In India swine flu panic spreads faster than virus
China executes ex-lawmaker for rape, gang crimes
Family to bury remains of lost pilot in Fla.
Hong Kong emerges from recession
States shelving US Capitol statues for new models
S. Korean firm to open major dog cloning centre
Police say avalanche in New Zealand kills 1 skier
S.Korean court convicts ex-Samsung boss
Hong Kong recession ends as economy grows 3.3 pct
Korean Air notches net profit in second quarter
Typhoon disrupts Asia Internet, telephone service
Man Group sells MF Global stake to Japan's Nomura
Chinese carrier in talks with Apple on iPhone
Court says ex-Samsung boss guilty over bond deal
SKorean festival to honor HK director Johnnie To
Archie-Veronica wedding story line irks collector
Hong Kong economy grew in 2Q, ending recession
China sacks nuclear chief over graft probe: report
In divided Lebanon, farmers' market a model of unity
Late-night wars heat up in countdown to Leno | Entertainment |
Late-night wars heat up in countdown to "Leno"
Writer McQuarrie tapped for "Wolverine" sequel
Ahead of the curve: US kid embarks on good news dream
Latest 'Big Brother' houseguest dropped
Paris penthouses for busy bees
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01