WASHINGTON — Major emerging powers stood ready Friday to pledge money to bolster the International Monetary Fund’s crisis-fighting war chest, though Brazil was holding out for promises that the bloc’s voting power would increase at the global lender.
Russia said Thursday that the Group of 20leading advanced and emerging economies would be ready at a meeting Friday to commit enough new money to fulfill a request by the I.M.F. chief, Christine Lagarde, for at least $400 billion to draw a line under the euro zone crisis. Russia itself would offer $10 billion, said Sergei Storchak, a deputy finance minister.
“Trust me that the G-20 will announce the final amount,” Mr. Storchak said. “This will be an amount that will satisfy the management of the International Monetary Fund.” Read more
Categories: Americas, Economics, United States