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International Monetary Fund (IMF) on Friday extended loans “prevention” 20 billion dollars to Poland, because the country’s efforts with a fragile global economic recovery. The IMF executive board approved the request of Poland for the Flexible Credit Line (FCL) a year, the IMF said in a statement.

“The Government of Poland intends to treat the settings (credit) as a precaution and does not intend to withdraw from the FCL,” said 187 institutions based in Washington State.

Poland has benefited, between May 2009 and May 2010, the IMF provided a credit line for countries with a strong track record and is “designed for crisis prevention.” Once uncertainty about the update, because the first dispute between central banks and governments about the issue, then followed the death of President Lech Kaczynski and the central bank chief Slawomir Skrzypek in a plane crash on 10 April, the Polish government turned once again to the IMF for loans. Read the rest of this entry »