Supplemental Financing for IMF
Date:
June 24, 2009
Who:
Treasury
Policy Area:
Monetary Policy
Economic Target:
Government and GSEs
Action Type:
Loans
Maximum Amount:
$75.00 billion
Amount Spent:
$75.00 billion
Deficit Impact:
$4.97 billion As part of the Supplemental Appropriations Act (H.R. 2346), signed into law on 6/24/2009, Congress and the President agreed to add $75 billion in Special Drawing Rights (SDRs) at the International Monetary Fund. The funds will remain "available until expended" to buffer the IMF's reserves.
Notes:
Deficit impact of $75 billion increase in SDRs is estimated to cost the U.S. government $4.973 billion.
