1 IMF broadens lending power 2 Russia to

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1. IMF broadens lending power 2. Russia to Join WTO Черкасов Григорий Э 2 -2

IMF broadens lending power The International Monetary Fund, led by Christine Lagarde, has loosened restrictions on lending to try and ameliorate the debt crisis

NEW YORK (CNNMoney) -- The International Monetary Fund approved a number of changes to streamline its emergency lending process and deal with the European debt crisis. The goal: allow the IMF to provide cash in tough times, especially to otherwise healthy countries caught up in a credit crunch -- countries the IMF calls "crisisbystanders. "

The reforms also expand the IMF's rapid financing instrument, which is meant to aid members in urgent need of assistance. "This is another step toward creating an effective global financial safety net to deal with increased global interconnectedness, " said Lagarde

Russia to Join WTO MOSCOW—Russia on Thursday won approval from a key committee to join the World Trade Organization, boosting the trade bloc's clout among major world economies and sealing the Kremlin's intentions to open up the economy after 18 years of negotiations.

The deal also is a boost for Washington and Brussels, which have pushed for Russia to join. Accession to the trade bloc is expected to stimulate Russian economic growth and help global companies ranging from consumer goods to insurance.

For the U. S. , one last legislative obstacle to improved trade with Russia is the so-called Jackson. Vanik amendment to a 1974 federal law, which prevents permanent normal trade relations with Moscow and could disrupt WTO benefits if it isn't repealed. For Russia, joining the WTO is likely to hurt less-competitive domestic manufacturing industries that have failed to keep up since Soviet times, such as food processing, textiles and construction materials, analysts said. Also, Russian banks and insurance companies will likely face more competition.

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