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Author Topic: IMF Seeks $600 BILLION More Funds  (Read 589 times)
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Vonne
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« on: January 18, 2012, 04:20:42 PM »

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The International Monetary Fund is seeking to boost its war chest by $600 billion to help countries reeling from the euro zone debt crisis, but some nations insist Europe must first do more to support its ailing members, international financial sources said on Wednesday.

Group of 20 officials will discuss increasing IMF resources at a meeting in Mexico City on Thursday and Friday, the first under Mexico's 2012 presidency of the group of developed and emerging economies.

The IMF said it will need $500 billion to lend to member countries in need and IMF sources who were present at an IMF board meeting on the issue on Tuesday told Reuters that another $100 billion is needed as a "protection buffer."

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