Thursday, April 02, 2009

The IMF finally snags a willing customer

For some reason, troubled nations avoid dealing with it.

Until today.

"IMF’s No. 2 official, John Lipsky, was beaming. A previous condition-less loan, nicknamed E-Z loan, which was announced last fall, hadn’t attracted a single borrower. A similar IMF loan program in the late 1990s also didn’t yield a single taker He finally snagged a customer."