IMF could be set for $600bn funding hike
Wednesday 18 January 2012 - by Andrew.Hickley@gfsnews.com
Having identified around a $1tn (â‚¬0.78tn) global financing gap over the next two years the international lender wants to lift its available lending funds up to $885bn (â‚¬690.3bn) from the current $385bn (â‚¬300.3bn), Bloomberg reports, quoting a person familiar with the talks.
Emerging markets including Brazil and China have publicly pushed to increase their stakes in the international lender, saying that using the funds could help stem the eurozone crisis which, if allowed to continue, would impact on their rapid economic growth.
Increased funding from these countries could also affect their clout at the IMF, where countrywide voting rights and contributions are still largely based on the standings of national finances from the Bretton Woods era.
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