Sun, April 22, 2012
Business > Economy

IMF raises $430 bln for crisis firewall

2012-04-22 05:16:18 GMT2012-04-22 13:16:18(Beijing Time)  Xinhua English

BEIJING, April 22 (Xinhuanet) -- Finance ministers and central bankers are continuing their discussions at the spring meetings of the International Monetary Fund and World Bank in Washington, DC.

The participants are confronting issues surrounding Europe’s ongoing debt crisis and prospects for a fragile worldwide economic recovery.

The IMF has secured over 430 billion dollars in addition to its resources, as the Group of 20 advanced countries and emerging countries pledged to beef up the Fund’s financial capacity on Friday.

The ministers hope a 430 billion US dollar increase is enough to handle any fresh crisis among the 17 nations that share the Euro as their currency.

Worries about the debt crisis have dominated talks among finance officials in Washington this week for the semi-annual meetings of the IMF and the World Bank, with Spain facing strong scrutiny.

(Source: cntv.cn)

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