Thursday, April 2, 2009

$250 bn in SDR for the IMF!

IMF Press Release. This is a part of an overall $1.1 Trillion dollars, the FT reports.

The drawing rights, which is denominated by a basket of currencies compared to the US dollar, will be used immediately.

No word on exactly how it will directed into stimulus. But, I guess it will be on a case by case basis.

Trade finance is an issue as well as special developing country credit, is also an issue.
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