“We need everybody to chip in to avoid unnecessary bankruptcies,” International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday and added that they want to reverse the outflow of capital from emerging markets.
Additional takeaways
“New short-term liquidity line will give many countries access to short-term funding.”
“Short-term liquidity line will not lock in resources on a larger than necessary scale.”
“Hope to reassure private investors to halt outflow from developing countries.”
“Will discuss further options to help African nations at the meeting Friday with the World Bank, UN.”
“Now is the time we don’t lose the momentum of African growth.”
Market reaction
The US Dollar Index gained traction in the last minutes and jumped above the 100 handle. However, this movement seems to be technical rather than a reaction to these comments.
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