By country
Following are details of the main emergency loan programmes initiated by the International Monetary Fund (IMF) as the global economic crisis has deepened.
Latest moves saw the IMF agree rescue deals this week with Serbia and European Union member Romania, worth respectively 3 billion euros and 20 billion euros.
A summit of the Group of 20 major developed and developing economies in London next week is expected to agree to at least double IMF funding as part of efforts to see off the worst impact of financial crisis.
* SERBIA — Serbia agreed a new, 3.0 billion euro 27-month loan programme to replace a $520 million stand-by loan agreed in January. The IMF said a fiscal gap of 3.0 percent of GDP was the maximum Serbia could finance, while a sharp fiscal adjustment, including a wage and pension freeze in 2009 and 2010, will help Serbia attain a more balanced external position.
* ARMENIA — The IMF approved a $540 million, 28-month stand-by loan on March 9, enabling Armenia to draw about $240 million immediately.
— The IMF approved a three-year, $13.6 million loan programme last November to support the economy through to 2011.
* BELARUS — IMF approved a $2.46 billion financial rescue package for Belarus in January. Belarus has already received the first $788 million tranche and the rest is to be released over the next 14 months.
* EL SALVADOR — IMF gave final approval to an $800 million loan for El Salvador in January, but said the country did not face immediate needs and would not draw on the funds.
* GEORGIA — The IMF said on Tuesday it would disburse a $186.6 million loan tranche to Georgia under a three-year programme. This is part of the $750 million standby loan approved in September.
* HUNGARY — The IMF, the EU and World Bank agreed a $25.1 billion economic rescue package last November in the biggest loan for an emerging market economy since the crisis began.
— The IMF's conditions forced the government to make additional spending cuts, including in social spending and public sector wages, which had been regarded as taboo.
* ICELAND — The IMF approved a $2.1 billion loan for Iceland in November. Major banks and currency had collapsed under the weight of billions of dollars of debt accumulated in an aggressive overseas expansion into financial services.
— The IMF deal was complemented by more than $3 billion in loans from Nordic countries, Russia and Poland as well as close to $5 billion or more by Britain, the Netherlands and Germany, making the whole package worth about $10 billion.
* KENYA — Requested this month an IMF loan of up to $100 million to cushion its currency and help counter a food crisis.
* LATVIA — The new government will aim for a 2009 budget deficit of 7 percent of GDP. The planned deficit is above the maximum 5 percent of GDP Latvia agreed with the IMF and European Commission for a 7.5 billion euro rescue package last year.
— The package included financing from the EU, Nordic countries, the Czech Republic, Poland, Estonia and the World Bank. The IMF share was 1.68 billion euro ($2.13 billion).
* MALAWI — The IMF said on Dec. 3, 2008 it approved a $77.1 million plan to help Malawi reduce the impact of high fuel and fertiliser costs.
* MONGOLIA — The IMF reached an agreement in principle with Mongolia, for a $224 million loan package under an 18-month stand-by arrangement on March 7.
* PAKISTAN — Will look to secure additional funding from the IMF when they hold talks in April. The IMF approved a loan of $7.6 billion in November to avert a balance of payments crisis and the government defaulting on its debt obligations.
* ROMANIA — A 20 billion euro aid package agreed on Wednesday includes 12.9 billion euros of IMF money and 5 billion euros from the EU as well as funds from the World Bank and the European Bank for Reconstruction and Development. Romania would be able to draw 5 billion euros after the approval of a 2-year standby agreement in the board, the Fund said.
* SEYCHELLES — The IMF agreed a two-year $26 million rescue package on Nov. 14, 2008, whose foreign debt was valued at $800 million. The package is dependent on economic reforms.
* SRI LANKA — Is seeking a stand-by arrangement which amounts to approximately $1.9 billion.
* TURKEY — Turkey said on Wednesday it will resolve budget issues with the IMF when they resume loan deal talks after local elections on March 29.
— Turkey has been negotiating on a loan deal to reinforce state finances, but talks were suspended after the two sides failed to resolve differences. The IMF had opposed tax cut plans in Turkey in the past, saying this would hurt fragile public finances. A deal of around $25 billion is expected, which would make it the biggest loan request in Turkey's history.
* UKRAINE — President Viktor Yushchenko said on Wednesday that Ukraine expects to resume talks with the IMF soon and hopes to clinch an agreement on receiving the second tranche of its loan in two to three weeks.
— The IMF approved a $16.4 billion loan package in November but suspended the credit's second tranche after disagreement including over the size of the budget deficit. Ukraine has received the first $4.5 billion tranche.
* ZAMBIA — The IMF said on March 4 that Zambia could receive an additional $100 million to $150 million in balance of payments help as the country struggles with the effects of falling copper prices and a global credit crisis.
— The IMF said it would try to complete the first and second reviews by early May. Approval of the reviews would see a loan tranche of around $20 million disbursed to the country.
