The promised funds from the Group of 20 advanced and emerging economies aim to ensure the IMF can respond decisively should the debt problems that have engulfed three euro zone countries spread and threaten a fragile global recovery.
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place, we are north of a trillion dollars actually. So I was a t mesmerized by the amount."
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investors alike said it merely buys time for Europe to undertake more economic reforms.
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taken to quell the crisis had cut the risk.
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firewall depends really on its reforms," he said, speaking alongside Lagarde. "If its reforms lose credility, if its reforms lose momentum, then quite frankly the firewall is not enough. So it depends entirely on the commitment to reform."
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revisit voting shares next year. This action would recognize that the world economy has changed substantially in view of strong growth in dynamic emerging markets, the communiqué said, meaning that emerging economies should have greater clout at the IMF.