03-14-2010, 11:24 PM
[size="6"][url="http://www.allheadlinenews.com/articles/7018094587"]India's Central Bank To Buy $10 Billion Bonds From IMF [/url][/size]
Washington, DC, United States (AHN) - The central bank of India will buy bonds worth US$10 billion, issued by the International Monetary Fund (IMF), according to an announcement.
The IMF and the Reserve Bank of India (RBI), the country's central bank, have signed a deal under which the RBI would purchase up to $10 billion in IMF notes.
"The agreement offers India a safe investment instrument at the same time as boosting the IMF's capacity to help its members to weather the global financial crisis, and to facilitate an early recovery from the worldwide economic crisis," an IMF press statement said.
The IMF can now add these resources to those already available through agreements signed with other members, which contribute toward an increase in IMF resources that was requested in April 2009 by G-20 leaders and the International Monetary and Financial Committee, according to the statement.
Washington, DC, United States (AHN) - The central bank of India will buy bonds worth US$10 billion, issued by the International Monetary Fund (IMF), according to an announcement.
The IMF and the Reserve Bank of India (RBI), the country's central bank, have signed a deal under which the RBI would purchase up to $10 billion in IMF notes.
"The agreement offers India a safe investment instrument at the same time as boosting the IMF's capacity to help its members to weather the global financial crisis, and to facilitate an early recovery from the worldwide economic crisis," an IMF press statement said.
The IMF can now add these resources to those already available through agreements signed with other members, which contribute toward an increase in IMF resources that was requested in April 2009 by G-20 leaders and the International Monetary and Financial Committee, according to the statement.