Mr Strauss-Kahn, Managing Director of the International Monetary Fund, said that the IMF needed $100bn in extra funding if it were to help with the global economic recovery. Before the G20 summit, it has $250bn, and Japan made a commitment to provide an extra $100bn. However, the IMF would need more because the number of countries needing help is steadity increasing.
The IMF also urged central banks around the world to cut interest rates to boost the world economy.
1 comment:
it was interesting that, apart from the Japanese offer, no other countries ponied up, especially with the G20 summit going on. Teh IMF has called for the big developing nations to gain more control of the G20, but it seems that they are still timid to help lead the world, at least when it comes to global monetary assistance.
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