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EVENT:
The IMF yesterday unveiled a 25 billion dollar loan package for Hungary, in conjunction with the EU and the World Bank.
SIGNIFICANCE:
The IMF is reacting quickly as economies tumble, bending its usual procedures and offering loans well-above countries' usual access limits. Today the Executive Board may approve a new short-term lending instrument that -- breaking the rules that it has followed for decades -- should have no economic policy conditions attached.
Word Count (approx): 1279
Headings
- Solid mandate
- Lending amounts
- Catalytic effect
- Ukraine risk
- Flexible conditionality
- New lending facility
- Radical options
- Stigma?
- Running on empty?
Primary Keywords: INT, Hungary, Iceland, IMF-World Bank, International, Ukraine, economy, banking, capital flows, exchange rate, finance, fiscal, investment, monetary, policy
Secondary Keywords: Belarus, Chile, China, EU, Mexico, Pakistan, Romania, Serbia, United Kingdom, United States
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