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March 19, 2009

Senators Back Increased IMF Aid
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Back on Capitol Hill, a bipartisan group of senators is voicing support
for an Obama administration plan to increase US contributions to the
International Monetary Fund. Obama has asked Congress to grant the IMF
$100 billion to aid struggling nations hurt by the economic crisis.
Senator John Kerry backed the proposal after meeting IMF and World Bank
officials.

Senator John Kerry: “We are convinced that the IMF needs to have
additional funding. Secretary Geithner has made a proposal for
additional funding. I speak for myself and say that I support that. I
think it is an essential ingredient of our ability to send a message
regarding stability and regarding our preparedness to help countries
face the banking challenges and the consumer and food challenges that we
face across the globe.”

It’s unclear what kind of conditions recipient nations would face for
accepting the new IMF aid.



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