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IMF approves $20.58 billion precautionary credit line for Poland

Alston & Bird LLP
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Global, Poland
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May 7 2009

Yesterday, the IMF's Executive Board announced its approval of a one-year $20.58 billion Precautionary Credit Line Arrangement for Poland, under its Flexible Credit Line (FCL

IMF approves $17.1 billion stand-by arrangement for Romania

Alston & Bird LLP
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Global, Romania
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May 5 2009

Yesterday, the IMF approved a $17.1 billion, 24-month SDR Stand-By-Arrangement for Romania, of which approximately $6.6 billion will be made available immediately and the remainder made available “in installments subject to quarterly reviews.”

IMF projects European economic downturn may end by late 2010

Alston & Bird LLP
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Global
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May 13 2009

Yesterday, the IMF released its Spring European Regional Outlook, which projects that the current economic downturn in Europe could end during the second half of 2010, but will be followed by a slow recovery

IMF releases self-assessment study of recent crisis programs in emerging market countries

Alston & Bird LLP
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Global
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September 28 2009

Yesterday, the IMF released an internal study reviewing "the emerging market programs put in place in response to the current financial crisis" in 15 emerging market countries

G-20 summit ends with new commitments to international economic cooperation

Alston & Bird LLP
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Global
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September 27 2009

On Friday, at the conclusion of the two-day summit in Pittsburgh, the leaders of the Group of Twenty (G-20) issued a communiqué reviewing the actions and progress that has been made by its member countries since the London Summit in April and outlining important new commitments

ECB President addresses measures taken since the onset of the crisis

Alston & Bird LLP
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Global
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May 31 2009

On Friday, Jean-Claude Trichet, President of the European Central Bank (ECB) delivered a speech at an international symposium marking the 50th anniversary of Bank Al-Maghrib, the central bank in Marrakech, Morocco

IMF issues communiqué ahead of IMF- World Bank annual meetings

Alston & Bird LLP
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Global
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October 4 2009

Today the International Monetary and Financial Committee of the Board of Governors of the IMF ("IMFC"), the 24 member policy steering committee of the IMF chaired by Youssef Boutros-Ghali, the Finance Minister of Egypt, released a communiqué ahead of the IMF and World Bank Annual Meetings to be held later this week in Istanbul, Turkey, that builds on in part the commitments made by the G-20 leaders last month at the Pittsburgh Summit

IMF releases semi-annual Global Financial Stability Report

Alston & Bird LLP
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Global
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September 30 2009

Today, in advance of its upcoming annual meetings to be held in Istanbul, Turkey, next week, the IMF released its second semi-annual Global Financial Stability Report

Market participants issue new commitments and move closer to reducing systemic risk and increasing efficiency in the OTC derivatives market

Alston & Bird LLP
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Global, USA
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June 3 2009

Yesterday, key over-the-counter (OTC) derivatives market participants and industry associations, including the International Swaps and Derivatives Association, Inc. (ISDA), the Managed Funds Association and the Asset Management Group of the Securities Industry and Financial Markets Association, in an effort to "significantly reduce systemic risk and increase transparency,” submitted a letter to the Federal Reserve Bank of New York (FRBNY) and other banking regulators

IMF urges governments to develop exit strategy from the financial crisis

Alston & Bird LLP
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Global, USA
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September 16 2009

Today, the IMF issued a report entitled "Crisis-Related Measures in the Financial System and Sovereign Balance Sheet Risks."