Riksbank lends money to IMF

Date 03/04/2009

The EU member states have agreed to provide temporary loans to the International Monetary Fund, IMF, to a total of EUR 75 billion. Sweden’s share, and thereby the Riksbank’s, amounts to the equivalent of SEK 27 billion.

 

The financial crisis underlines the importance of efficiently-functioning international institutions that can assist countries in managing the effects of the crisis. The demand for the International Monetary Fund’s, IMF’s, loan programme has increased substantially. To strengthen the IMF's resources the EU member states have now agreed to provide a temporary loan totalling EUR 75 billion. The Swedish share of this amount, which the Riksbank is providing, is EUR 2.47 billion, which corresponds to SEK 27 billion.

 

History

The International Monetary Fund (IMF) currently has 185 member countries, which means most of the countries in the world. Its headquarters is in Washington D.C.

The International Monetary Fund was founded following a conference in Bretton Woods in 1944. Sweden became a member of the IMF in 1951.