September 8, 2009
The Managing Director of the International Monetary Fund (IMF), Mr. Dominique Strauss-Kahn, made the following statement today regarding Singapore’s commitment to increase fourfold its contribution to the Fund’s New Arrangements to Borrow (NAB) by US$1.5 billion, to a total of US$2 billion.
“I welcome the commitment by Singapore to support the lending capacity of the IMF through an increased contribution to the New Arrangements to Borrow. This decision underscores Singapore’s role in the global community and its commitment to international cooperation. Singapore's contribution will strengthen the global financial system by increasing confidence that the IMF’s resources will be sufficient to meet the financing needs of its member countries.”