(RTTNews) - Thursday, the Danish central bank agreed to lend EUR 1.95 billion or US$ 2.9 billion to the International Monetary Fund in order to boost its lending capacity on the back of the global crisis.

The IMF and the Danmarks Nationalbank, the Danish central bank, signed the borrowing agreement, as part of the commitment made by the European Union in March 2009 to contribute upto EUR 75 billion to the Fund, to increase the lender’s capacity. In September, the EU committed to provide an additional EUR 50 billion to the Fund.

“The signing of the agreement with the Danmarks Nationalbank means the Fund can now add these resources to those already available through borrowing agreements signed with other members”, the IMF said in a statement.

“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”, the lender added.

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Posted in Categories: Economy, Eurozone, Releases, USA.

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