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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: John Hunt who wrote (37918)	7/29/1999 10:29:00 AM
From: hunchback	Read Replies (2) of 116774

Looks like the IMF is issuing another credit card to Russia IMF Approves Stand-By Credit for Russia The International Monetary Fund (IMF) today approved a 17-month Stand-By credit for Russia equivalent to SDR 3.3 billion (about US$4.5 billion) to support the government's 1999-2000 economic program. There will be seven equal disbursements of SDR 471.429 million (about US$640 million) under the Stand-By credit, with the first installment released immediately. Subsequent installments will depend on completion of quarterly reviews and meeting of performance criteria and structural benchmarks. At the conclusion of today's Board meeting, Stanley Fischer, First Deputy Managing Director of the IMF, said: "The Executive Board of the IMF today completed the 1999 Article IV Consultation and approved the Russian authorities' request for a new stand-by arrangement. As a result, Russia will now be able to access SDR 3.3 billion (about $4.5 billion) from the IMF over 17 months, provided that it meets the terms and conditions of the program during this time. imf.org : ) hunchback

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