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EU backs call to double IMF funds
BlondeHeadOn
Posts: 2,277 Forumite
From here:
http://news.bbc.co.uk/1/hi/business/7935490.stm
"European Union finance ministers have backed a call to double the money the International Monetary Fund has to help countries hit by the financial crisis.
They said the IMF funding increase to $500bn (£361bn) should be split fairly among IMF members.
The issue will be discussed at a meeting of G20 finance ministers in Sussex, England this weekend.
The IMF has warned that it needs more resources if it is to be able to lend to countries ravaged by the crisis.
"It is essential that the IMF has appropriate financial means to assist countries particularly affected by the current crisis," the ministers said in a statement. "EU member states support a doubling of IMF resources and are ready to contribute to a temporary increase if needed," it added. "
It's all good news again today, eh? (NOT)
http://news.bbc.co.uk/1/hi/business/7935490.stm
"European Union finance ministers have backed a call to double the money the International Monetary Fund has to help countries hit by the financial crisis.
They said the IMF funding increase to $500bn (£361bn) should be split fairly among IMF members.
The issue will be discussed at a meeting of G20 finance ministers in Sussex, England this weekend.
The IMF has warned that it needs more resources if it is to be able to lend to countries ravaged by the crisis.
"It is essential that the IMF has appropriate financial means to assist countries particularly affected by the current crisis," the ministers said in a statement. "EU member states support a doubling of IMF resources and are ready to contribute to a temporary increase if needed," it added. "
It's all good news again today, eh? (NOT)
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