Archive for category Fiscal & Monetary

World leaders meet at summit (Summit) G-20 on Thursday (11/03/2011) local time, discuss the increased funding in the International Monetary Fund (IMF) to help resolve the debt crisis of the euro zone.

British Finance Minister George Osborne said, countries like China are interested in the proposal, which has been greatly encouraged by Prime Minister David Cameron, but he refused to put the numbers increase.

“The international community also accepted that it needed to overcome the global economic situation in general and there is a debate that has begun, but not concluded, the increase in resources for the IMF,” said Osborne told reporters.

“Of course there are no numbers and I suspecting that their discussions will not conclude until tomorrow,” he said, summarizing the day of the G-20 summit in Cannes, France.

The British government has floated the idea of ​​increased funding for the IMF as some of the ways to help the euro zone without contributing directly to the bailout, which could potentially damage the domestic politics.

When asked if there is international support at the meeting, Osborne said, was discussed by the countries of the G-20 since early October. “I have not heard anyone object to state that we increase IMF resources. Individual Contribution to the increase had not been discussed so I can not give numbers,” he said.

“But certainly from what I heard from China, and myself had a discussion with the Chinese here also, they are also interested in providing support to the IMF.”

Cameron said Thursday morning that the UK will consider increasing the 29 billion pounds (34 billion euros, 46 billion dollars) in funding for the IMF.