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IMF board set to okay $150 bn in bond debut

IMF board set to okay $150 bn in bond debut
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First Published: Thu, Jul 02 2009. 12 22 AM IST
Updated: Thu, Jul 02 2009. 12 22 AM IST
Washington: The International Monetary Fund’s (IMF) board of directors plans to approve authorization to issue as much as $150 billion (around Rs7.2 trillion) of bonds for the first time as it seeks new sources of funds, an IMF official said.
The board is scheduled to vote on the matter on Wednesday, the official said on condition of anonymity.
The bonds are part of a wider effort to seek new funding as the lender helps countries from Iceland to Pakistan combat the global financial crisis.
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First Published: Thu, Jul 02 2009. 12 22 AM IST