IMF gets $456 billion for crisis firewall [france24]
June 19, 2012 Leave a comment
AFP – IMF chief Christine Lagarde said on Monday that member states had promised a total of $456 billion (361 billion euros) for its new crisis fund, $26 billion more than a target set in April.
China, which had held back on how much it would offer for months, will contribute $43 billion, according to the IMF.
“With today’s announcements by an additional 12 countries, a total of 37 IMF member countries… have joined this collective effort, demonstrating the broad commitment of the membership to ensure the IMF has access to adequate resources to carry out its mandate in the interests of global financial stability,” Lagarde said.