The International Monetary Fund (IMF) is planning to sell bonds in a move to raise funds to lend to ailing national economies, IMF Head Dominique Strauss Kahn said on the first day of the 2009 meeting of the IMF and the World Bank which was convened in Washington on April the 25th.

The IMF said in a communiqué issued after the annual spring meeting that necessary steps should be taken to make sure a global economic recovery will take place in 2010, and to do that a reform in global banking system, revival of lending and of international money flow has been stated as the needed measures.

The IMF also said that member nations had committed to cleaning up their banking systems and taking steps to boost their economies through increased government spending.

Chairman of the IMF’s policy setting committee, Youssef Boutros-Ghali, said IMF members agree there is a “break in the clouds” in the outlook for the global economy.

He added that while there are still tough times to come, the global economy should start to stabilize by the end of this year and recovery could kick in by the end of the first half of 2010.

In addition to that, emerging economies such as China and Brazil have expressed interest in purchasing the securities to be issued by the IMF.

The IMF has never issued bonds before.

Meanwhile, as the world’s finance chiefs met on Saturday, more than hundred demonstrators protested the way world leaders have handled the global economic crisis, and clashed with police outside the IMF and World Bank meetings.

The protesters say the IMF and World Bank policies are hurting the poor.

The IMF is a Washington-based lending institution that monitors the global economy, warns of impending crises and provides financial and technical advice to its 185 member nations. via trtenglish.com

June 10, 2009 – recorded 17:30 EDT

Steep bond yield signals strength in equities:
http://network.nationalpost.com/np/bl…

Russia plans to reduce U.S. Treasury holdings in its reserves:
http://www.marketwatch.com/story/russ…

Russia May Swap Some U.S. Treasuries for IMF Debt
http://www.bloomberg.com/apps/news?pi…

Russia, Brazil Plan to Buy $20 Billion IMF Bonds:
http://www.bloomberg.com/apps/news?pi…

Treasurys Add To Losses After Weak 10-Yr Auction:
http://online.wsj.com/article/BT-CO-2…

UPDATE: Brazil Throws Its Weight Into Global Currency Debate:
http://online.wsj.com/article/BT-CO-2…

No one talking about dumping dollar: China minister:
http://www.reuters.com/article/newsOn…

Hu to visit Russia for BRIC summit:
http://www.businessweek.com/ap/financ…

ECB fears bank crisis in 2010 as recession drags on:
http://www.telegraph.co.uk/finance/ec…

Oil consumption falls by the most since 1982:
http://www.telegraph.co.uk/finance/fi…