Press Release: IMF Signs US$10 Billion Borrowing Agreement with Government of Canada
July 8, 2009Press Release No. 09/257
July 8, 2009
The Managing Director of the International Monetary Fund (IMF) and the Minister of Finance of Canada have signed an agreement to provide the Fund with up to the equivalent of US$10 billion (about SDR 6.5 billion).
The signing of the agreement means the Fund can now add these resources to those already available from its borrowing agreements with Japan (See Press Release 09/32) and the central bank of Norway, Norges Bank, (See Press Release 09/253) in order to provide timely and effective balance of payments assistance to its members in the current crisis.