UK Ready to Commit Extra $11bn to IMF

Alistair Darling the UK’s Central Banker spoke ahead of the G20 meeting touching on the subject brought up in the last summit where all nations agreed to add extra support to the International Monetary Fund to face the current economic crisis around the globe:

Mr Darling, who was writing in the UK’s Guardian newspaper ahead of this weekend’s G20 meeting of finance ministers, said Britain would continue to lead international action both in response to the financial crisis and to help secure the recovery.

In April at the London G20 summit, world leaders agreed to triple the IMF’s resources to $750bn to help emerging market and low income countries cope with the financial crisis.

Mr Darling said that ministers would step up their efforts to secure the economic recovery and repair the world’s “failed” financial system at their meeting, which starts on Friday.

Financial Times

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza