Saturday February 22, 2020

China leads IMF firewall boost to $456 billion

Emerging-market countries including China and Brazil formalised funding pledges to the International Monetary Fund, helping to almost double its lending power to protect the world economy from Europe’s debt turmoil.

19th June, 2012
2
Christine Lagarde

Emerging-market countries including China and Brazil formalised funding pledges to the International Monetary Fund, helping to almost double its lending power to protect the world economy from Europe’s debt turmoil.

With the addition of new pledges from 12 nations that also includes Russia, India and South Africa, the IMF said it now has received funding commitments of $456 billion, up from the roughly $430 billion it said it had secured in April.

The temporary contributions will...

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