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October 30, 2008
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Thursday
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Shawwal 30, 1429
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IMF creates lending facility
WASHINGTON, Oct 29: The International Monetary Fund announced on Wednesday the creation of a new short-term liquidity facility for countries battered by the global financial crisis.
The IMF executive board approved the creation of the emergency tool “to establish quick-disbursing financing for countries with strong economic policies that are facing temporary liquidity problems in the global capital markets”, the 185-nation lending institution said in a statement.—AFP
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