Senate debates Bills
International Monetary Agreements Amendment (New Arrangements to Borrow) Bill 2017; Second Reading
Mathias Cormann WA, Liberal Party, Minister for Finance
10:09 am
I thank senators who have spoken in this debate for their contributions. The new arrangements-to-borrow legislation form part of a broader global effort to ensure that the global financial safety net remains strong and resilient in the face of economic crisis. The IMF's mandate to support global economic and financial stability is of critical importance given continuing risks to the global economic outlook. For Australia, as an open trading economy engaged with and exposed to the world and to global economic and financial conditions, it is very much in our interests to do all we can to ensure that the IMF has the resources it needs to fulfil its role, which is why I commend this bill to the Senate.
Question agreed to.
Bill read a second time.
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