US set ban to IMF’s credits

The USA will decide if country is worth IMF's tranche

In brief: Such measures are to be held in order to avoid Greek situation.

The US Senate voted for the bill which prohibits the International Monetary Fund (IMF) to give credits to the countries not able to guarantee their real capacity to pay debts. The bill was proposed by the republican John Cornyn. It was accepted by 94 senators.

Now the bill is to be signed by the US President Barack Obama. The document presumes necessary evaluation by the US government of lending capacity of the country, applying for the aid, if its state debt is more than its annual GDP. Such measures are to be held in order to avoid Greek situation.

Maria Velikanova
2010-05-18 09:21, Economics.

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