The IMF said in a statement on the same day, these new reforms will enable the IMF to better respond to the members of the liquidity requirements to deal with than natural disasters and post-conflict situation in a wider range of emergency financing needs.
IMF Managing Director Christine Lagarde said in a statement, the new tool will enable the IMF to more rapid and effective response to the crisis, which is conducive to all members World Pipe network informed, but also another step toward the construction of the global financial safety net.
22 International Monetary Fund announced that the organization's Executive Board has approved a series of reforms to enhance its flexibility and expand the range of lending instrumentsWorld Steel Pipe , so that the members of the IMF to provide more effective liquidity and emergency assistance to prevent the spread of financial crisis.
The statement said that the new reforms to the greater flexibility of preventive and liquidity arrangements (PLL) instead of preventive credit facility (PCL). The new tool can be used include to respond to future market volatility, insurance and short-term liquidity window.