Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 335

Letters on nab fund

Posted by fidest press agency su martedì, 21 aprile 2009

The letters from President Obama linked below were sent to House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell and House Minority Leader John Boehner late last week. As a follow up to the commitment made with other G-20 leaders at the meeting in London last month, President Obama proposes an expansion of the New Arrangements to Borrow fund from $50 billion to $500 billion, of which the US participation would be up to $100 billion.  Such participation does not represent a budgetary expenditure or any increase in the deficit since it effectively represents an exchange of assets.  The letter also asks for a further enlargement of NAB membership to include increased participation in the major emerging market countries.

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