Apr 23rd, 2009 - Reuters
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WASHINGTON, April 23 (Reuters) - The International MonetaryFund said on Thursday it will double the borrowing limits forpoor countries as the global financial crisis spreads to thepoorest regions of the world.
In a statement, the fund said the increase would be forcountries that borrow under the IMF's widely used PovertyReduction and Growth Facility, and its Exogenous ShocksFacility.
"For most of this decade, low-income countries have beengrowing strongly, with declining inflation and reduced debtburdens," IMF Managing Director Dominique Strauss-Kahn said.
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CORRECT: UPDATE: Gold Price Rises On China Reserves Increase
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("=UPDATE: Gold Price Rises On China Reserves Increase," published at 0909 GMT, misstated the extent of IMF's gold reserves in the last paragraph. The correct version...
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WASHINGTON (Reuters) - IMF Managing Director Dominique Strauss-Kahn said on Thursday that China's currency remained significantly undervalued, although the country's efforts to spur domestic growth would help with adjustment.
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