IMF in Business
IMF is a national organization that really has a role in business in our borderless world. Ham, a professor of International economics at Yonsei University said that the IMF also needs to encourage member states to capitalize loan facility that without conditionality of IMF loans to the stigma can be reduced. “We will reach an agreement [increase in borrowing capacity] at the latest G-20 summit in Seoul,” said William Murray, Chief Media Relations in IMF, when contacted by Bloomberg by phone. When tried to be contacted, the Senior Resident Representative in Indonesia IMF Zavadjil Milan declined to give comment. Data from the IMF’s official website revealed that the total loans which have been agreed to borrower countries as of June 30, 2010 reached at least U.S. $ 82.62 billion for facility standby arrangement (SBA) and U.S. $ 33.85 billion for flexible credit line (FCL).