Norway has come forward to prop up the IMF's bailout package to help countries in distress with planned support of US$4.5 billion.
IMF Managing Director Dominique Strauss-Kahn in a statement this week said he was welcoming the announcement by Finance Minister Kristin Halvorsen that Norway's Ministry of Finance and Norges Bank (central bank) are exploring a possible Norwegian contribution of up to 30 billion Norwegian kroner (about US$4.5 billion) of financial resources to the IMF to ensure that the Fund is capable of meeting the borrowing needs of its member countries that might arise in the current crisis.
"I look forward, as Minister Halvorsen has proposed, to discussing soon the final size and form of support from Norway that would be best suited to strengthening the IMF's financial resources," he said.
The IMF said Norway's additional financial support to the IMF would contribute to strengthening the multilateral response to the economic crisis. In making this announcement, Norway is adding to the important steps already made by the European Union and the Government of Japan toward stabilizing the global financial system during this period of unprecedented stress, the IMF said. |
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