G20 may contribute over $450 bn to IMF: CalderonJune 20th, 2012 - 11:10 am ICT by IANS
Los Cabos (Mexico), June 20 (IANS/RIA Novosti) The Group of Twenty (G20) major economies may contribute more than $450 billion to the International Monetary Fund (IMF), G20 summit host Mexican President Felipe Calderon has said.
“This is the biggest capitalization in the fund’s history,” Calderon told journalists after the summit Tuesday.
He said the capitalization would help the global effort to overcome the financial crisis.
The G20 in April pledged to contribute $430 billion to the IMF to fight the spread of the debt crisis in the eurozone.
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Tags: bn, capitalization, debt crisis, eurozone, financial crisis, g20 summit, global effort, international monetary fund, international monetary fund imf, journalists, los cabos, los cabos mexico, mexican president felipe calderon, president felipe calderon, ria novosti