Czech cbank governor says loan to IMF poses risk to foreign exchange reserves.

By bne IntelliNews December 20, 2011
Lending the IMF some EUR 3.5bn as part of a package aimed at helping distressed EU courtiers would pose a risk to the banks foreign exchange reserves, central bank governor Miroslav Singer told Hospodarske Noviny daily. If the government decides on extending the loan, exposure to the IMF will be raised to some 28% of the banks FX reserves. Late on December 19, eurozone finance ministers agreed on boosting the IMFs lending capacity by EUR 150bn and said non-eurozone members like the Czech Republic, Denmak, Poland and Sweden will also participate in the financial package after winning approval by their parliaments. In a reaction to the statement, Czech finance ministry spokesman Ondrej Jakob told CTK newswire that for now the country cannot be mention among the states that will participate in the package. Jakob said that the government has not yet taken a decision on whether or not it will provide the loan.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Czech CSSD proposes 2014 general and European elections to be held together.

Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more

Tesco Czech faces fine for selling products containing undeclared horsemeat

The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more

Czech Senate votes to limit immunity of lawmakers, judges.

The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more

Follow Us On

Most Read

  1. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  2. Don't mention the "D" word - Ukraine
    6 days ago
  3. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    4 days ago
  5. The models are wrong, climate change is accelerating faster than predicted
    1 day ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  4. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss