SINGAPORE LOANS US$2 BILLION TO IMF

SINGAPORE, Sept 7 (Bernama) -- Singapore will contribute US$2 billion to
the International Monetary Fund (IMF) to help the world body boost its
lending capacity, according to the Monetary Authority of Singapore (MAS) today.

In a statement, MAS, the republic's central bank said the contribution
would take the form of a contingent loan to the IMF under its New Arrangements
to Borrow (NAB).

It said the loan represented an increase of US$1.5 billion from its existing
contribution under the NAB.

MAS managing director Heng Swee Keat said Singapore's decision demonstrated
its long-standing commitment to a well-resourced and effective IMF.

"The IMF plays a key role in helping countries respond to unanticipated
stresses in their external payments, and in maintaining global financial
stability," he added.

Singapore has been a contributor to the NAB since its inception in 1998.
--BERNAMA