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Posts Tagged ‘Eurozone Crisis’

International Monetary Fund expands lending tools

Posted by Business in Ghana on November 23, 2011

The International Monetary Fund (IMF) has announced new measures to help countries protect themselves from the eurozone debt crisis.

The Precautionary and Liquidity Line (PLL) is designed to help countries with “sound economic fundamentals” meet short-term financing needs.

To qualify, countries must also have “sound policies”.

Italy and Spain have seen their borrowing costs spike on fears they may fall victim to the debt crisis.

Earlier on Tuesday, Spain raised 2.98bn euros ($4bn, £2.6bn) in an auction of three- and six-month bonds, but at much higher yields than in a similar auction last month. Read the rest of this entry »

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