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Strategies & Market Trends : Ride the Tiger with CD

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To: SwampDogg who wrote (162535)6/3/2009 5:47:44 PM
From: Zincman  Read Replies (1) of 313060
 
reuters.com

WASHINGTON (Reuters) - Democrats in the U.S. Congress have reached a deal to boost support to the International Monetary Fund, lawmakers' aides said on Tuesday, a victory for President Barack Obama who pledged to help the lender assist countries in the global economic crisis.

The war funding measure will provide a $100 billion credit line to the IMF, increase the U.S. member contribution to the IMF by $8 billion and authorize the United States to back the IMF's plan to sell 400 tons (12.97 million ounces) of gold, said the aides, who declined further identification.
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