* China to contribute $43 billion to IMF crisis arsenal
* BRICS to boost funds to IMF, but want reforms
* Brazil, Russia, India each offer $10 billion
* Emerging countries to study currency swaps
By Lesley Wroughton and Paul Eckert
LOS CABOS, Mexico, June 18 (Reuters) – China on Monday
offered $43 billion to the IMF’s crisis-fighting reserves,
rounding off a global push to nearly double the Fund’s war chest
to $456 billion to help protect countries from fallout from the
euro zone debt crisis.
China’s contribution was part of a pledge by Group of 20
countries made in April to supply the International Monetary
Fund with extra firepower.
“These resources are being made available for crisis
prevention and resolution and to meet the potential financing
needs of all IMF members,” said IMF Managing Director Christine
Lagarde.
“They will be drawn only if they are needed as a second line
of defense” when other IMF loans have been depleted, she said in
a statement during a Group of 20 summit in Mexico.
Continued…
