Wilson PonIMF is going to receive US$10 billion Loan from Brazil
August 27th 2009 05:15
As the South America’s biggest economy giant, Brazil said they’re ready to offer US$10 billion to the IMF.
Guido Mantega, the Brazil’s Finance Minister said this is one of the parts of a united approach by Brazil, Russia, India and China. These four economy newcomers are united together and hope to boost up the global financial stability.
“Beside us, China had already planned to invest US$50 billion, while Russia US$10 to the IMF as well,” said Mr. Mantega.
In the past, Brazil is the one who always seek help from the IMF. However, the scene had 360 degrees changes, where Brazil now is having the ability to offer loan to IMF.
Believe it or not, the Brazilian’s government is currently has around US$200 billion in international reserves. They’re normally using the money to invest in IMF bonds and helping those developing countries who in need the most!
PS: Photo thanks to moneynfinancialupdate.
Guido Mantega, the Brazil’s Finance Minister said this is one of the parts of a united approach by Brazil, Russia, India and China. These four economy newcomers are united together and hope to boost up the global financial stability.
“Beside us, China had already planned to invest US$50 billion, while Russia US$10 to the IMF as well,” said Mr. Mantega.
In the past, Brazil is the one who always seek help from the IMF. However, the scene had 360 degrees changes, where Brazil now is having the ability to offer loan to IMF.
Believe it or not, the Brazilian’s government is currently has around US$200 billion in international reserves. They’re normally using the money to invest in IMF bonds and helping those developing countries who in need the most!
PS: Photo thanks to moneynfinancialupdate.
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