US Paulson Welcomes Fed, IMF Actions To Boost Global Markets
Thursday October 30th, 2008 / 0h00
By Maya Jackson Randall Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Programs announced by the International Monetary Fund and Federal Reserve Wednesday to boost short-term credit markets around the world are a significant demonstration of international cooperation, Treasury Secretary Henry Paulson said late Wednesday. Paulson said he welcomes the Fed's decision to create swap lines with fourcentral banks as well as the IMF's decision to establish a short-term liquidity facility to provide various countries with loans. The Fed Wednesday announced swap lines totaling up to $120 billion with Brazil, Mexico, South Korea and Singapore. "The Federal Reserve and IMF actions show international resolve to support strong performing emerging market economies adversely impacted by the current financial market turbulence," Paulson said. He noted that the actions come ahead of a major meeting of international finance ministers and central bankers next month in Sao Paulo, Brazil, and a "Leaders Summit" to be held Nov. 15 in Washington, D.C. -By Maya Jackson Randall, Dow Jones Newswires; 202-862-9255, maya.jackson-randall@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=nmC%2FAKYmgJGLUOTz%2FlV6rA%3D%3D. You can use this link on the day this article is published and the following day.
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