IMF signs $2.9 bln borrowing agreement with Danish central bank

The International Monetary Fund (IMF) said on Thursday that it has signed a borrowing agreement with the Danmarks National bank, the central bank of Denmark, to provide the IMF with up to 1.95 billion euros (about 2.9 billion dollars).

The agreement is part of a commitment made by the European Union in March 2009 to contribute up to 75 billion euros to support the IMF's lending capacity. The European Union has since committed an additional 50 billion euro to the Fund's expanded New Arrangements to Borrow .

The signing of the agreement with the Danmarks Nationalbank means the IMF can now add these resources to those already available through borrowing agreements signed with other members, said the IMF in a statement.

Source: Xinhua