Meanwhile, Strauss-Kahn and Robert Zoellick, the head of the IMF's sister organization, pledged new resources to fight the worst global downturn since the Great Depression of the 1930s, while warning that the crisis is far from over.
"We still have long months of economic distress in front of us," Strauss-Kahn said.
The IMF's board agreed to double the borrowing limits for 78 of the poorest countries in an effort to meet the needs of developing nations harmed by the downturn.
In other words, rather than individual nations demanding that lenders give loans to people who can't afford them, they're going global, extending loans to nations who will never be able to repay them.
(h/t Breitbart)
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