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| The emergency loan is supported by economic
policy advice (AFP) |
The
International Monetary Fund (IMF) has offered up to $1bn (￡530m) in
financial assistance to each nation affected by the Asian tsunami.
A statement from IMF director general Rodrigo Rato came ahead of a
donor meeting in Jakarta on Thursday.
The United Nations said earlier that aid pledges have topped $3bn.
Member nations given IMF emergency loans in the wake of natural
disasters or armed conflicts in the past, included earthquake-hit Turkey
in 1999.
Among the other recent recipients were Bangladesh following floods in
1998, and Honduras, Haiti and the Dominican Republic after hurricanes in
the same year.
Since 1962, 34 countries have been given more than $2.3bn under the
programme.
A country applying for emergency assistance needs to describe the
economic policies it intends to pursue.
This financing could be made available quickly and without an IMF
program
It is also expected to indicate an intent to develop a more detailed
policy program under one of the fund's regular lending facilities.
An emergency loan is usually limited to 25% of its
IMF quota and is subject to repayment
within five years.
"This financing could be made available quickly and without an IMF
program," Mr Rato said.
"The financing needs have yet to be fully assessed," he added.
"This, together with the most appropriate forms in which the assistance
should be delivered, will be discussed tomorrow (Thursday) and in the
coming days."
(Agencies) | 
Updated: 2005-01-06 10:29