IMF Bailed Out by Coronavirus Bill?

IMF official statement:  March 27, 2020

Washington, DC – the International Monetary Fund (IMF) welcomes today’s expedited approval by the United States Congress of the U.S. commitment to strengthen the IMF’s resources.

“The U.S. decision to speed up approval of its substantial new contributions to the IMF is a powerful message to the international community and helps solidify the IMF’s US$1 trillion lending capacity. It comes at a crucial time as the whole world fights COVID-19 and demand for IMF resources is high” said IMF Managing Director Kristalina Georgieva. She added, “Now that the U.S. has taken this important step, I am confident that other NAB contributors who have not yet done it will also expedite their commitments, so the IMF can continue to play its essential role as a lender of last resort at this time of crisis.”

Read the IMF provision in the CARES Act here

​Read bio Kristalina Georgieva