News Brief No. 99/22

News Brief: IMF Managing Director Welcomes Netherlands’ ESAF Contribution

April 30, 1999

International Monetary Fund (IMF) Managing Director Michel Camdessus welcomed the Netherlands’ decision to lend SDR 250 million (about US$338 million) to the ESAF Trust’s Loan Account, which provides financial support to the world’s poorest countries.

Camdessus said: "The Enhanced Structural Adjustment Facility (ESAF) is central to our efforts to assist on concessional terms low-income countries undertaking important macroeconomic adjustment and structural reforms.

"We have approached members to provide loan resources to the current ESAF and have received positive indications from some countries. Today, I greatly welcome the decision of the Netherlands’ authorities to meet this request, and I continue to hope other members will step forward to support this effort to create the basis for high and sustainable growth in the low-income nations," he said.