EU urges doubling of IMF capital

[Orion]

BBC NEWS | Europe | EU urges doubling of IMF capital

EU leaders have urged the G20 leading economies to double the money available to the International Monetary Fund to help countries in financial difficulty.

Leaders meeting in Brussels said they would provide up to 75bn euros ($102bn; £71bn) in loans in an effort to boost the IMF's capital to $500bn (£344bn).

They also doubled to 50bn euros (£47bn; $68bn) the amount of emergency funding available to help non-eurozone members.

But the bloc resisted US calls to spend even more to revive national economies.

They said they wanted first to gauge the effects of the 200bn-euro ($274bn; £188bn) stimulus package they have been implementing, and that the focus should be on reforming the global financial system.

That's just what we need, is more global supranational institutions gaining financial assets, the most worrisome of which is the IMF. This organization is responsible for the pro-longed destitution of many developing nations via Structural Adjustment Programs and debt interest. Several UN officials have told developing nations to simply stop paying money to the IMF.

Now the IMF is one of the institutions at the head of global financial restructuring during this time of hardship.

 

[Kushinator]

BBC NEWS | Europe | EU urges doubling of IMF capital



That's just what we need, is more global supranational institutions gaining financial assets, the most worrisome of which is the IMF. This organization is responsible for the pro-longed destitution of many developing nations via Structural Adjustment Programs and debt interest. Several UN officials have told developing nations to simply stop paying money to the IMF.

Now the IMF is one of the institutions at the head of global financial restructuring during this time of hardship.

Do not blame the IMF, blame the countries with poor regulation and monetary policy. Mexico and Argentina are the first to come to mind, and then Thailand, Malaysia, and Brazil.

 

[Slippery Slope]

Do not blame the IMF, blame the countries with poor regulation and monetary policy. Mexico and Argentina are the first to come to mind, and then Thailand, Malaysia, and Brazil.

Where does the USA fit on your list?