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EU to give IMF 150 bln euros in loans to IMF; UK unsure
December 19, 2011 / 7:56 PM / in 6 years

EU to give IMF 150 bln euros in loans to IMF; UK unsure

BRUSSELS, Dec 19 (Reuters) - Euro zone finance ministers agreed on Monday to give the International Monetary Fund 150 billion euros in bilateral loans to help resolve its debt crisis, aided by Sweden, Denmark, Poland and the Czech Republic, but Britain needed more time.

“Ministers confirmed today that ... euro area member states will provide 150 billion euros of additional resources through bilateral loans to the fund’s general resources account,” EU finance ministers said in a statement.

Following a conference call between ministers, the statement also said the Czech Republic, Denmark, Poland, and Sweden were ready to also grant loans to the Washington-based lender -- subject to parliamentary approval. But Britain said it would consider its position in the new year.

Finance ministers also urged other nations to take part.

“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,” the statement said. (Reporting By Robin Emmott)

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