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WASHINGTON, April 20 (Reuters) – The Group of 20 leading
industrial and emerging countries pledged more than $430 billion
on Friday to bolster the International Monetary Fund’s
fire-fighting power and ward off financial contagion from
Europe.
The agreement would double the IMF’s war chest, achieving
the target laid out by IMF chief Christine Lagarde at the start
of the IMF/World Bank meetings this weekend.
“There are firm commitments to increase resources made
available to the IMF by over $430 billion in addition to the
quota increase under the 2010 reform,” G20 finance ministers and
central bankers said in a communique, referring to plans to give
emerging economies more say at the IMF.
