IMF Offers Special Loan for Tsunami-Hit Countries
{{date|January 5, 2005}}

[[w:IMF|The International Monetary Fund]] (IMF) Managing Director [[w:Rodrigo Rato|Rodrigo Rato]] offered special relief funds for the countries victim of the tsunami disaster. The money is, however, in the form of a loan. The IMF has been present in the area on various occasions. 

The IMF offered a one billion U.S. dollar loan. The money would be given as [http://www.imf.org/external/np/exr/facts/conflict.htm Emergency Natural Disaster Assistance facility], and would be repaid ''in full and with interests'' within 3¼ to 5 years. 

The money could help the area tremendously, but since it is a loan as opposed to an outright donation, it may not be as helpful.  The loan, some fear, may not lead to economic stability in the long run. Despite the possible long term effects, the governments of the tsunami torn nations may simply have no choice but to accept the offer.

==References==
*{{source|url=http://www.imf.org/external/np/sec/pr/2005/pr0501.htm|title=Statement Ahead of Jakarta Meeting on Asia Tsunami Disaster|date=January 5, 2005|pub=IMF|author=Rodrigo Rato}}
* [http://www.democracynow.org/article.pl?sid=04/11/09/1526251&mode=thread&tid=25 Related opinion piece]

 
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[[Category:2004 Indian Ocean earthquake and tsunami]]
[[Category:United States]]
[[Category:Earthquakes]]
[[Category:Published]]
[[Category:International Monetary Fund]]
The International Monetary Fund (IMF) Managing Director Rodrigo Rato offered special relief funds for the countries victim of the tsunami disaster. The money is, however, in the form of a loan. The IMF has been present in the area on various occasions. 

The IMF offered a one billion U.S. dollar loan. The money would be given as  Emergency Natural Disaster Assistance facility, and would be repaid in full and with interests within 3¼ to 5 years. 

The money could help the area tremendously, but since it is a loan as opposed to an outright donation, it may not be as helpful.  The loan, some fear, may not lead to economic stability in the long run. Despite the possible long term effects, the governments of the tsunami torn nations may simply have no choice but to accept the offer.
2004 Indian Ocean earthquake and tsunami United States Earthquakes Published International Monetary Fund