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China confirms $43 billion for IMF crisis war chest

Author: Reuters All articles by this author

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Jun. 19, 2012 09:37
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China will contribute $43 billion to the International Monetary Fund's crisis-fighting reserves, state news agency Xinhua confirmed on June 19, without providing details.
Photo by AFP
BEIJING - China will contribute $43 billion to the International Monetary Fund's crisis-fighting reserves, state news agency Xinhua confirmed on June 19, without providing details.

The leaders of Brazil, Russia, India, China and South Africa, meeting before a Group of 20 summit in Mexico, said they "agreed to enhance their own contributions to the IMF".

They sought to tie the funds to long-delayed reforms that would give the developing world more say at the Washington-based Fund.

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