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(From left) Mexico’s Carstens, Meade; IMFC’s Shanmugaratnam, IMF’s Lagarde at news conference announcing new pledges to boost IMF resources (IMF photo)
The IMF and Civil Society
2012 Spring Meetings
IMF to Double Lending Power as Pledges Top $430 Billion
April 21, 2012
The Group of Twenty (G-20) advanced and emerging market economies, along with the broader IMF membership, agreed on pledges to boost the institution’s lending capacity by more than $430 billion.
IMF Managing Director Christine Lagarde told a news conference on April 20 that the new commitments would almost double the IMF’s lending power.
Since the start of the global economic crisis in 2007, the IMF has committed more than $300 billion in loans to its member countries. In response to the crisis, the IMF also reformed its policies toward low-income countries and quadrupled its concessional lending.