UK lends IMF SDR9.92 billion


The British Treasury and the International Monetary Fund (IMF) on Tuesday signed an agreement for the UK to provide the Fund with SDR 9.92bn ($22.2billion) to help support the institution's lending capacity.

The monies are extended as part of the earlier European Union decision to extend about $100 billion in new monies towards the IMF. This in turn reflected the April agreement between G20 leaders and the IMF to ensure sufficient capital for the IMF to continue providing balance of payments

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