Prime Minister Jens Stoltenberg announces Norway is to lend the IMF money amongst a worsening economic outlook.
“Norway has offered the IMF a 55 billion kroner loan to help stabilise European and International economies” he says, “which in turn will contribute to securing ours and Norwegian jobs.”
The offer, which is conditional upon other major international efforts, comes in addition to Monday’s announcement by Eurozone and non-Euro countries they would be lending the International Monetary Fund EUR 150 million. There are reports other nations outside of Europe are considering a similar move.
Prime Minister Stoltenberg has expressed worries Europe could experience social unrest not seen since the 1930s.
“I don’t wish to draw direct parallels with pre-WWII Europe, but it’s obvious the situation is serious. Anger, frustration, and aggression occur amongst young people following longer-term unemployment, which could lead to social unrest, and riots.”
Announcing today’s loan, he says, “Many of Norway’s trade and cooperation partners are currently experiencing difficult times, economically. We are strongly interested in international economic and financial stability.”
The money is not earmarked for any particular region or group of countries.
Like this article? Show your appreciation.