G-20 Pact Has New Rules and Commitments of $1.1 Trillion

New York Times
"The most concrete measures relate to support for the International Monetary Fund, which has emerged as a “first responder” in this global crisis, making emergency loans to dozens of countries.The Group of 20 pledged to triple the resources of the Fund to $750 billion — through a mix of $500 billion in loans from countries, and a one-time issuance of $250 billion in Special Drawing Rights, the synthetic currency of the Fund, which will be parceled out to all its 185 members.The countries, in turn, could lend that money to troubled neighbors. The I.M.F.’s members also agreed to lend the proceeds from sales of the fund’s gold reserves to the poorest countries."