Press Release No. 09/302

Press Release: IMF Managing Director Dominique Strauss-Kahn Welcomes Singapore's Commitment of Additional Financial Support for the IMF

September 8, 2009

The Managing Director of the International Monetary Fund (IMF), Mr. Dominique Strauss-Kahn, made the following statement today regarding Singapore’s commitment to increase fourfold its contribution to the Fund’s New Arrangements to Borrow (NAB) by US$1.5 billion, to a total of US$2 billion.

“I welcome the commitment by Singapore to support the lending capacity of the IMF through an increased contribution to the New Arrangements to Borrow. This decision underscores Singapore’s role in the global community and its commitment to international cooperation. Singapore's contribution will strengthen the global financial system by increasing confidence that the IMF’s resources will be sufficient to meet the financing needs of its member countries.”

Useful links:

Agreements bolstering lending capacity:

http://www.imf.org/external/np/exr/faq/contribution.htm

Factsheet on increasing the Fund’s resources:

http://www.imf.org/external/np/exr/facts/imfresources.htm

Factsheet on IMF borrowing arrangements:

http://www.imf.org/external/np/exr/facts/gabnab.htm

Press Release: Participants in New Arrangements to Borrow and Potential New Participants Discuss Expansion and Reform of IMF Credit Line:

http://www.imf.org/external/np/sec/pr/2009/pr09143.htm

IMFC Communiqué, April 25, 2009:

http://www.imf.org/external/np/sec/pr/2009/pr09139.htm

April 2009 G-20 London Summit final communiqué:

http://www.londonsummit.gov.uk/resources/en/news/15766232/communique-020409