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.
"This is extremely important,
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The $1 trillion figure includes both the
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The IMF would be able to use its increased firepower to
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Worries about the debt crisis have dominated talks among finance officials in Washington this week for the semi-annual
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The IMF has warned the crisis presents the gravest risk
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In foreign currency markets, investors welcomed the G20 move, giving a boost to the
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But in a sign investors lack confidence that a g IMF war chest can draw a line
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David Keeble, global head of interest rate strategy at Credit Agricole Corp., said the expansion of the IMF's
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Lagarde defended Europe's actions to date, saying its
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"Whether Europe has done enough to build up its
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"Circumstances could change," Canadian Finance Minister Jim Flaherty said.
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While the BRICS group of leading emerging nations - which also includes Russia, India, China and South Africa
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The BRICS countries are especially frustrated that the United States is stalling over
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The G20 communiqué reaffirmed members would redistribute IMF power by the October meeting, and stick to plans to
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