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IMF welcomes G-20 action to support growth
Lalit K Jha in Washington | April 03, 2009 11:55 IST
Observing that the global crisis is hitting emerging markets and poor countries hard, IMF Managing Director Dominique Strauss-Kahn said, "The G-20 leaders have on Thursday sent a powerful signal that the international community is committed to support these countries, including by ensuring that the IMF has the resources available."
At the end of their London Summit on April 2, G-20 countries agreed to make available immediately an additional $250 billion, to be expanded by up to $500 billion in total.
The G-20 leaders also called for a doubling of the IMF's lending capacity to its low-income members, and for a boost to global liquidity through a $250 billion issue of the Special Drawing Rights (SDR) reserve asset.