First with new IMF lines for emerging markets

Reuters has dominated the IMF response to the crisis too. We broke news on Oct. 23 that the International Monetary Fund was discussing a new way to help out emerging markets. Under the plan, it is considering currency swap lines with emerging economies to help ease U.S. dollar funding strains. Pressing sources as market rumors of a new $1 trillion IMF program began to swirl, our Washington correspondent nailed down exactly what was under discussion: a liquidity-enhancing swap facility that would be available to ‘top tier` emerging market countries. Reuters also squelched rumours that a $1 trillion figure was being discussed by the IMF. The report was widely cited in market research and drew kudos from a top emerging markets analyst.