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IMF emergency fund is doubled to $500bln in global rescue effort

Posted on 24 February 2009

From Guardian: European leaders yesterday agreed that an emergency IMF fund should be doubled to $500bn prevent the worldwide recession turning into a fullscale depression.

As Gordon Brown prepares to launch a fresh package of measures to encourage bank lending, starting with a £14bn injection into Northern Rock to revive the mortgage market, the EU’s senior leaders agreed to boost the role of the IMF and the World Bank….. Full Article: Source


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