Eurozone to lend 150 bn euros to IMF

December 20th, 2011 - 3:15 pm ICT by IANS  

Brussels, Dec 20 (IANS) Eurozone countries Monday have agreed to channel 150 billion euros (about $195 billion) to the International Monetary Fund (IMF) to boost a firewall against the debt crisis, but Britain has refused to join hands.

Britain has reportedly indicated that it would not participate in the plan agreed during the Dec 9 European Union (EU) Summit to increase IMF resources by up to 200 billion euros, with 150 billion euros coming from eurozone central banks, reported Xinhua.

“Britain has indicated that it will define its contribution early in the New Year in the framework of the G20,” said a statement released after chairing a teleconference of European Union finance ministers.

Four countries outside the eurozone - the Czech Republic, Denmark, Poland and Sweden - have pledged to follow suit and make contributions to the IMF, according to the statement.

For some eurozone member states, commitments will be subject to parliamentary approval, the statement added.

“The EU would welcome G20 members and other financially strong IMF members to support the efforts to safeguard global financial stability by contributing to the increase in IMF resources so as to fill global financing gaps,” the statement said.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe