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IMF EXECUTIVE BOARD CONSIDERING MANAGEMENT PROPOSALS FOR TEMPORARY FACILITY TO ASSIST COUNTRIES IN TRANSITION TO MARKET ECONOMIES

 WASHINGTON, April 2 /PRNewswire/ -- Margaret Kelly, the acting director of the International Monetary Fund's External Relations Department, confirmed that, as part of its ongoing assistance to countries in transition to market economies, the executive board of the IMF is considering a management proposal for a temporary addition to its financing facilities in order to be able to provide early assistance to its members facing particularly disruptive systemic shocks. The new facility is intended to support determined and effective stabilization and reform efforts at an early stage and to pave the way for strong support by the IMF under its ordinary facilities. It would be designed both to complement and to catalyze additional contributions from bilateral and multilateral sources. Details about the new facility will be provided by the IMF's management after further consideration by the executive board in the coming weeks.
 -0- 4/2/93
 /CONTACT: International Monetary Fund, External Relations Department, 202-623-7100/


CO: International Monetary Fund ST: District of Columbia IN: FIN SU: ECO

TW-IH -- DC026 -- 2536 04/02/93 13:05 EST
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Publication:PR Newswire
Date:Apr 2, 1993
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