IMF Seeks $600 Billion More In Funds -- Reuters(Reuters) - The International Monetary Fund is seeking to boost its war chest by $600 billion to help countries reeling from the euro zone debt crisis, but some nations insist Europe must first do more to support its ailing members, international financial sources said on Wednesday.
Group of 20 officials will discuss increasing IMF resources at a meeting in Mexico City on Thursday and Friday, the first under Mexico's 2012 presidency of the group of developed and emerging economies.
The IMF said it will need $500 billion to lend to member countries in need and IMF sources who were present at an IMF board meeting on the issue on Tuesday told Reuters that another $100 billion is needed as a "protection buffer."
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More News On The IMF
IMF seeks up to $500 billion in new resources to meet $1 trillion in financing needs -- Washington Post/AP
IMF seeks $500 bn more as euro crisis rages -- AFP
IMF Seeks Boost of Up to $600 Billion -- Wall Street Journal
IMF 'needs $US500b' to fight raging euro crisis -- Sydney Morning Herald
IMF to raise $500 billion -- CNN
IMF seeking $500bn funding boost -- BBC
IMF Seeks $500B Boost to Lending Resources -- Bloomberg
IMF requests $500bn for bail-out loans -- Financial Times
US Treasury: IMF Can Only Supplement Europe's Role In EU Debt Crisis -- Wall Street Journal
My Comment: Guess who is going to pony up the $600 billion .... hint .... look in the mirror.
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