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U.S. Markets

G20 backs more resources for IMF, no concrete sums discussed

FILE PHOTO: International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S., April 20, 2018. REUTERS/Yuri Gripas/File Photo

ROME (Reuters) - The world’s financial leaders (G20) backed the idea of boosting the capital of the International Monetary Fund to help it provide more loans to poorer countries but did not yet discuss concrete numbers, Italy’s finance minister said on Friday.

“There was no discussion on specific amounts of Special Drawing Rights,” Daniele Franco told a news conference after a G20 video conference, adding the issue would be discussed further on the basis of a proposal prepared by the IMF for April.

Reporting by Gavin Jones and Jan Strupczewski; Editing by Andrew Cawthorne

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