Daily Archives: April 21, 2012
The G20 today announced a commitment to raise the resources of the International Monetary Fund (IMF) by 430,000 million dollars to strengthen the international financial stability.
The final communiqué of the ministerial meeting, chaired by the Minister of Finance of Mexico, Jose Antonio Meade, states that “the new funds are a sign of commitment by the international community to protect global financial stability and economic recovery set in a plane safer. ”
Among the countries that have announced their support eventually include China, Russia and Brazil, although the exact materialize “due course”, which could increase the amount of 430,000 million dollars.
The Fund’s managing director, Christine Lagarde, called a news conference the new resources as a “global umbrella” and a “key tool” to drive growth, fiscal consolidation and structural reforms continue working.
These additional funds will be “used wisely”, he promised, who said that “will be available for all members and will not be defined for a given region.”
Also, the G20 communique said “the decisions taken by the European authorities to strengthen the firewall as part of broader European efforts and liquidity of the European Central Bank (ECB).”
With these additional contributions, which began this week with the commitment of Japan, exceeding the target of 400,000 million dollars marked by the very Lagarde.
The IMF managing director last week reduced the amount necessary to constitute this “circle of protection” international than 500,000 million estimated earlier this year to 400,000 million to the “timid” signs of global recovery.