The International Monetary Fund has given priority to poor countries by stating that it will take certain steps to help poor countries in the present recession scenario. Many poor countries are in great trouble because of the economic problems worldwide. IMF recently made the statement that it will increase funding to poor countries by up to 17 billion dollars from now till 2014. Also, it will suspend the interest on certain loans that have been given to poor countries. IMF is planning to sell its gold reserves to meet its goal of generating funds.

In April during the G20 summit, the participating countries called for more lending by IMF. This will definitely help countries in sub – Saharan Africa and other poor countries around the globe according to Dominique Strauss-Kahn who happens to be the head of IMF. According to the IMF, though a lot of poor countries were making economic progress but because of the recession this progress was getting jeopardized.

Moreover, the fund will allow them to sustain their economies currently while building up a better base for future. The fund plans to give out 8 billion dollars in next two years. This is surprising as G20 countries had asked for 6 billion dollars to given as fund. IMF has already granted a 600 million loan to Ghana and a 2.5 billion loan to Sri Lanka. These are very important moves by IMF as the focus is on ones really in need.