Press Release: IMF Managing Director Dominique Strauss-Kahn Welcomes Brazil’s Intention to Invest Up To US$10 Billion in Notes Issued by the IMF
June 10, 2009Press Release No. 09/207
June 10, 2009
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today welcoming Brazil’s intention to invest up to US$10 billion in notes to be issued by the IMF:
“I welcome President Luiz Inacio Lula da Silva’s decision, and the announcement by Finance Minister Guido Mantega, that Brazil will contribute to the Fund’s resources to help member countries weather the current global economic crisis by investing in IMF notes. With this announcement, Brazil is joining other countries in fulfilling the commitment of the G-20 leaders in April.
“The Brazilian authorities have shown great leadership and engagement in the whole process of IMF reform and expansion of our funding, and I am pleased that Brazil is clearly showing its strong support to the international economic and financial system. Brazil once more reaffirms its strong role as a leading emerging market economy.
“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.