China will buy bonds issued by Internasinal Monetary Fund (IMF) worth US$ 50 billion, to increase the agency funding sources. The agreement that began in June was completed on Wednesday Washington time yesterday.
Quoted by Reuters on Thursday (3/9/2009), the agreement was signed by IMF Managing Director Dominique Strauss-Kahn and Deputy Governor of People's Bank of China Yi Gang.
These measures are part of the agreement under G-20 in April in London to pump IMF funding sources for US$ 500 billion. The funds will be intended to help IMF support countries hit by the global financial crisis.
