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IMF is close to an agreement to strengthen its resources DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

IMF is close to an agreement to strengthen its resources

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IMF is close to an agreement to strengthen its resources Empty IMF is close to an agreement to strengthen its resources

Post by TIMSTERS Thu Apr 19, 2012 8:54 pm


19/04/2012 0:00

WASHINGTON (Reuters) -
close to the International Monetary Fund appeared to be agreement to strengthen its financial resources as committed to Japan, Sweden and Denmark to provide $ 77 billion in total to contain the debt crisis of the euro area.
came pledges prior to meetings of finance officials adults from around the world in Washington focused on additional funding for the Fund, an issue that has gained new urgency because of the increased cost of borrowing in Spain and Italy this week. and fueling renewed problem of borrowing fears of renewed crisis in the euro area. Although the agreement may not appear in its final form at the end of meetings on Saturday it is possible to agree a set twenty-developed countries and emerging on the amount needed by the Fund and leave for the summit convened by the leaders of Mexico in June in the details. In an interview with Reuters, Hoon and German Finance Minister Wolfgang Schaeuble fears of Spain to be the latest euro zone countries that need help. He expressed optimism that lifted Group of Twenty resources Monetary Fund to $ 400 million by the end of the meeting. Said Assistant U.S. Treasury Secretary Lyle Brainard said on Europe to undertake the work necessary to address the debt problems, but caution should be exercised to avoid the "cycle of austerity and corruption." He stressed that he does not have Washington's intention to provide more money for the Fund. Also that a number of emerging economies such as China, Brazil and Russia is cautious about the increase in funding, despite the allocation of funds to countries outside Europe and want these commitments by countries is clear that the associated pumping any new resources to the fund given the right to vote greater. has hit these countries frustrated by the slow pace of reforms as delaying approval of the United States to reform the voting system agreed in 2010, which makes China the third largest contributor to the Fund and enhance the voting rights of Brazil and India. And has already begun negotiations on the next phase of reform the voting system is expected to be completed in 201
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