IMF, Provide 8 Billion Dollars For Low Income Countries.
The International Monetary Fund (IMF), announced it had reached an agreement with the four economic powers to provide $ 8 billion fund for low-income countries.
“The agreement … to expand the IMF’s capacity to assist low-income countries are hit hard by the current global crisis,” said financial institution based in Washington.
The agreement reached with authorities in Japan, Britain, France and China.
Japan is the largest contributor to the package, promised 2.7 billion dollars through the purchase agreement that gives funds (IMF) “ leverage for a loan. Britain pledged two billion dollars and Bank of China pledged 1.2 billion U.S. dollars.
France’s central bank signed a loan agreement of two billion U.S. dollars.
The announcement came a day before the UN summit which is expected to highlight the lack of progress on the so-called Millennium Development Goals.
The purpose of this program include the reduction of poverty by half, cutting the number of hungry people by half, ensuring universal primary education and reducing child mortality two thirds by 2015.
The number of American banks are frozen continues to grow.Yesterday, the U.S. banking authorities suspended the permit of six banks.
The details, the three banks at the Bank of Ellijay Georgia with assets amounting to 168.8 million U.S. dollars, First Commerce Community Bank of Douglasville with assets amounting to 248, 2 million U.S. dollars and Peoples Bank with assets amounting to 447.2 million U.S. dollars.
Meanwhile, three other banks namely ISN Bank in New Jersey with assets 81.6 million U.S. dollars, Bramble Savings Bank of Milford in Ohio with assets amounting to 47.5 million U.S. dollars and Maritime Savings Bank based in Wisconsin. This last bank with assets 350.05 million U.S. dollars. United States Deposit Insurance Corporation, neither the Federal Deposit Insurance Corp. (FDIC) has taken over the six banks.
With the revocation of three licenses of banks in Georgia is the number of banks are frozen this year to 14. The reason for a lot of bad property loans.
The number of banks that collapsed this year is expected to reach its peak. The amount is estimated at more than a year ago that about 140 pieces from the global financial crisis.
Last year, the FDIC must issue a fund of 30 billion U.S. dollars.Due to many major banks collapse, the FDIC shall disburse the funds are great.
In fact, the FDIC last year’s financial statements are in the red zone and a deficit of 20.7 billion U.S. dollars to 30 June. FDIC estimates the cost to make healthy banks from 2010 to 2014 amounted to 60 billion U.S. dollars.
PT Bank CIMB Niaga Tbk as the mandated lead arranger along with participating banks syndication, namely PT Bank Mega Tbk and PT Bank Resona Perdania, provide credit facility to PT NAP Info Lintas Nusa (NAP Info) worth 92.7 million U.S. dollars. This credit facility is used to take over financing the construction of fiber-optic cable along the 1055 km from Jakarta to Singapore, called the Matrix Cable System.
The statement was made Vice President Director of Bank CIMB Niaga Cathterine Hadiman, Tuesday (15/12/2009) in Jakarta. NAP Info is the owner of the company’s fiber-optic cable under the sea with a capacity of 2.56 terabytes and has started its commercial activities for the sale of Matrix Cable System since August 2008.