The International Monetary Fund has drawn up emergency plans to bail out governments affected by the financial crisis, after warning yesterday that no country would be immune from the ripple effects of the credit crunch.
Dominique Strauss-Kahn, the Fund's managing director, said it could make "hundreds of billions of dollars" available to either rich countries in the west, or to developing nations.
Amid fears that the extreme turbulence of the past month will push governments to the brink of financial collapse, Strauss-Kahn said he had asked the Fund's board to activate its fast-track loan procedure.
... more here: http://www.guardian.co.uk/business/2008/oct/09/globaleconomy.creditcrunch
Nick: JirkaPraha,
10.10.2008 10:19:32
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