IMF launches new dollar emergency liquidity facility

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The International Monetary Fund has launched a new short-term liquidity facility to provide an emergency source of dollars to countries as they deal with the coronavirus crisis.

The Short-term Liquidity Line, or SLL, is the IMF’s first new tool for nearly a decade. It may help fill a “critical gap” in the global financial safety net left by central bank swap lines, Geoffrey Okamoto, first deputy managing director at the IMF, says in a blog post.

The Federal Reserve has recently reopened and

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