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Norway provides Nkr55 billion to the IMF

Wednesday, 21 December 2011
Norway offers to make Nkr55 billion available to the IMF, reports Norway media sources.
The news appeared from a statement in connection with Norwegian prime minister, Jens Stoltenberg's press briefing at breakfast today.
“Norway has offered the International Monetary Fund (IMF) Nkr55 billion in loans to help stabilize the European and international economy and thus help to ensure the Norwegian economy and Norwegian jobs,” says Prime Minister Jens Stoltenberg in a comment.


The Norwegian loan offer would be granted if it goes to the IMF's general lending activities and not just to a particular region. The new loans therefore will help ensure that the IMF has sufficient lending capacity to meet member countries' needs for emergency funding.

"Given the Parliament's consent, the Norwegian loan funds would be made available to the IMF's general lending activities. Thus, they are not earmarked for a particular region or group of countries, but they are available to all IMF member countries," the report says.

He points out however that the current labour market figures from Statistics Norway show that there is still a good development in the Norwegian economy, but major restructuring opportunities are needed.
By Team

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