Kristalina Georgieva Secures Second Term as IMF Chief
Bulgaria's Kristalina Georgieva has been appointed for a second term at the helm of the International Monetary Fund (IMF)
The International Monetary Fund has approved the creation of a short-term liquidity facility to assist countries in combating the economic impact of the coronavirus pandemic, said IMF Managing Director Kristalina Georgieva.
"Today, our Executive Board approved the establishment of the Short-term Liquidity Line (SLL) to further strengthen the global financial safety net as part of the Fund’s COVID-19 response. The facility is a revolving and renewable backstop for member countries with very strong policies and fundamentals in need of short-term moderate balance of payments support. In these cases, the Short-term Liquidity Line will provide revolving access of up to 145 percent of quota.
“The Short-term Liquidity Line will strengthen further a country’s liquidity buffers and thus help in managing liquidity pressures. Complementing other instruments during the current crisis, the facility will fill a critical gap in the Fund’s toolkit and help to facilitate a more efficient allocation of resources.”, "said Georgieva, quoted by the fund's press service.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Tragedy struck the Ukrainian port city of Odesa as Russia unleashed a devastating assault, claiming the lives of five people and leaving over 30 injured
Chinese President Xi Jinping is embarking on a six-day tour of Europe amidst escalating trade tensions with the European Union and concerns over China's support for Russia. The trip, Xi's first to the continent since 2019, includes visits to France, Serbi
During the World Economic Forum, United States Secretary of State Anthony Blinken raised concerns over Russia's unprecedented pace of weapon production, comparing it to historical records, including the Cold War era of the USSR.
A recent report by a group of Western insurers has shed light on Russia's ability to circumvent Western oil sanctions, revealing that measures aimed at capping Russian oil prices have proven ineffective and have inadvertently fueled a surge in gray zone a
The impending enforcement of the new mobilization law, slated to target all able-bodied men between the ages of 25 and 59, has instilled a sense of dread and desperation among Ukrainians
A devastating Russian rocket attack on an educational institution in the picturesque seaside park of Ukraine's Black Sea port, Odesa, has left a trail of destruction and claimed the lives of four individuals
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022