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Russia to allocate $ 10 bln for expansion of IMF assets

June 19, 2012, 4:36 UTC+3
Russia continues abiding by the viewpoint that the case in hand at the moment
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LOS CABOS, Mexico, June 19 (Itar-Tass) – Russia will allocate $ 10 billion to the International Monetary Fund in a hope that Moscow will be able to influence the way these monies are spent, President Vladimir Putin’s press secretary Dmitry Peskov said Monday quoting Putin’s words at a summit of BRICS – an informal association of countries uniting Brazil, Russia, India, China, and South Africa.

“Putin confirmed this /the plans to allocate the monies – Itar-Tass/,” Peskov said.

“Along with this, Russia continues abiding by the viewpoint that the case in hand at the moment is a de facto increase of the volumes of liquidity pumped out in the conditions of a crisis,” he went on. “This alleviates the symptoms of the illness for some time but does not bring closer any systemic decision.”

“We’re releasing the funds in a hope that Russia and other countries making the monies available will have an opportunity to control the way they are spent,” Putin said in his speech.

 

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