NZ raises IMF commitment to $4.1B on Euro-jitters

Mon, 18 Jun 2012

By Pattrick Smellie June 19 (BusinessDesk) - New Zealand is committing to lend the International Monetary Fund another $1.26 billion in the event of global economic turmoil, ahead of announcements expected from today's G20 meeting in Mexico on measures to counter the ongoing Eurozone debt crisis. The latest US$1 billion (NZ$1.26 billion) commitment is the second such additional commitment in two years, and brings New Zealand's total potential lending to the IMF to NZ$4.1 billion, although the global lending agency has so far only drawn down...

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