IMF wins $456 billion in new resources -Lagarde
LOS CABOS, Mexico, June 18 |
LOS CABOS, Mexico, June 18 (Reuters) - The International Monetary Fund said on Monday it raised $456 billion in new crisis-fighting money after 12 more countries, including BRICS members China, Brazil, Russia, India and South Africa, pledged funding for an expanded IMF war chest.
In April IMF member countries had committed to a figure of $430 billion to deal with the effects of the euro zone crisis on the global economy.
"These resources are being made available for crisis prevention and resolution and to meet the potential financing needs of all IMF members," IMF Managing Director Christine Lagarde said in a statement. "They will be drawn only if they are needed as a second line of defense," she added.
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