IMF says it's ready to 'mobilize its $1 trillion lending capacity' to fight coronavirus

The International Monetary Fund said it 'stands ready' to use its $1 trillion lending capacity to help countries around the world.

The seal of the International Monetary Fund is seen outside of the headquarters building in Washington, DC on April 8, 2019.The International Monetary Fund on Monday said it "stands ready" to use its $1 trillion lending capacity to help countries around the world that are struggling with the humanitarian and economic impact of the novel coronavirus.

"As a first line of defense, the Fund can deploy its flexible and rapid-disbursing emergency response toolkit to help countries with urgent balance-of-payment needs," wrote Kristalina Georgieva, Managing Director of the International Monetary Fund. "The Fund already has 40 ongoing arrangements—both disbursing and precautionary—with combined commitments of about $200 billion," she added. "In many cases, these arrangements can provide another vehicle for the rapid disbursement of crisis financing."for exclusive insights and analysis, and live business day programming from around the world.

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