Recession Global

The International Monetary Fund will provide its participating countries to 250 billion dollars to mitigate the effects of the global financial crisis, reports AFP. The goal is that the payments will begin August 28.This is the issue of quasi-currency fund - the so-called Special Drawing Rights (SDR). SDR will be posted in the member countries the Fund in proportion to their share of votes in the IMF. In particular, Russia will receive IMF paper by 7 billion dollars.SDR represent liquidity provided to the balance of the Central States - members of the IMF. They can sell their SDR other countries for currency, for example, to cover the negative balance of payments. At the same time, SDR can be purchased by countries to diversify their currency reserves.Above IMF SDR produced very rarely and in small numbers. However, the G20 summit in early April 2009 it was decided to increase the resources of the fund for 750 billion dollars to support the global economy. Additional Issue SDR is planned as part of global anti-crisis measures, which in dollar terms was 1.1 trillion.In addition to SDR, the IMF has provided loans to many countries most affected by the global crisis. These included several states of Eastern Europe, Pakistan and Iceland.