IMF Signs Agreement to Borrow up to €8.11 Billion from Bank of Italy
The signing of the agreement with the Bank of Italy means the Fund can now add these resources to those already available through agreements signed with other members. These agreements contribute toward an increase in Fund resources that was requested in April 2009 by G-20 leaders and the International Monetary and Financial Committee in order to provide timely and effective balance of payments assistance to its members in the current crisis.
Useful links:
Text of the borrowing agreement with the Bank of Italy
Agreements bolstering lending capacity
Press Release 09/82 on European Union financial support for the IMF
IMFC Communiqué, April 25, 2009
G-20 Declaration on delivering resources through international financial institutions
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