The objective of the measure that the organization seeks to implement is to guarantee global financial stability.
The member countries of International Monetary Fund (IMF) they agreed to a “significant increase” in loan resources by the end of the year. This occurred within the framework of the statements of the managing director, Kristalina Georgievawho stated that the conflict between Israel and Hamas aggravated the global economic uncertainty.
At the press conference after the meeting of the IMF Steering Committeethe Chairwoman, Nadia Calvino, did not reveal the terms of the increase in the financing quotabut stated that he will ensure that the IMF can maintain global financial stability.
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Photo: NA
Georgieva declared at a press conference that the severity of the conflict between Israel and Gaza had become evident during the IMF and World Bank meetings this week, moving from attacks on “innocent civilians” in Israel to the “need to find ways now to prevent loss of civilian life in Gaza”.
In any case, he said that still It is too early to gauge the impact of the conflict on the world economy. “What we see, of course, is a recognition that this is about another source of uncertainty” he said, adding that much will depend on its scope and duration.
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IMF: new resources to guarantee global financial stability
According to a source familiar with the conversations, the final wording of the declaration is still being negotiated.
It is still not clear whether the International Financial and Monetary Committee would support a plan widely backed by the United States for countries to contribute new funds in proportion to their current holdings, which would delay any gains for China and other large, fast-growing emerging markets.
Calviño, Spanish Minister of Economywho ends his term at the head of the committeestated that there is unanimity on “fundamental issues”.
Source: Ambito
