Press Release: IMF Managing Director Dominique Strauss-Kahn Welcomes China’s Intention to Invest Up to US$50 billion in Notes Issued by the IMF
June 9, 2009Press Release No. 09/204
June 9, 2009
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today welcoming the Chinese authorities’ signaling of their intention to invest up to US$50 billion in notes issued by the Fund:
“We are grateful to the Chinese authorities for signaling their intention to invest in IMF notes and thereby, helping the IMF membership weather this global economic and financial crisis. With this announcement, the Chinese authorities have signaled strong support for the international economic and financial system,” Mr. Strauss-Kahn said.
“This decision will be beneficial to all,” Mr. Strauss-Kahn added. On one hand, IMF members’ investment in Fund securities will boost the Fund’s capacity to help member countries—particularly developing and emerging market countries—cope with the crisis and thus benefit all members by facilitating an early recovery of the global economy. At the same time, the new notes will offer members a safe investment instrument with reasonable return.
“IMF staff will present the necessary documentation to the Fund’s Executive Board to allow the issuance of notes as early as possible,” Mr. Strauss-Kahn said.