Latest News:  
Beijing   Thundershower/Cloudy    22 / 12   City Forecast

People's Daily Online>>China Business

IMF meetings may see progress on additional resources

(Xinhua)

08:36, April 19, 2012

Some countries are in favor of boosting International Monetary Fund (IMF) resources, and the spring meetings may make progress on this, head of the IMF Secretary Department said Tuesday.

Lin Jianhai, a Chinese who was named by IMF chief Christine Lagarde last month as Secretary of the Fund, said in an interview with Xinhua that a decisive breakthrough would be made on the issue of increasing IMF firepower during the spring meetings, which are scheduled from April 20 to 22.

Lin said that despite comparatively stable global financial markets and an improved global economic outlook, the recovery is still fragile.

A stronger global firewall would benefit all members in such an interconnected world, not only the European countries, but also countries with financial needs, he said.

The IMF estimated earlier this year that it may need an additional 500 billion US dollars to beef up its firepower against the crisis.

"Some countries have shown willingness to boost the IMF resources," Lin said, adding that the upcoming spring meetings would make headway regarding this issue.

His confidence was backed by recent announcements made by Denmark, Norway, Sweden and Japan. The three Nordic countries pledged to contribute over 26 billion dollars to beef up the resources of the Fund. Japan, the second largest shareholder of the global lender, also said it would contribute 60 billion dollars.

Global challenges call for global solutions, Lin said, adding that central bank governors and finance ministers should seize the opportunity to discuss and reassess the risks and coordinate their policies in the meetings later this week.

【1】 【2】

Email|Print|Comments(Editor:厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Wedding Banquet in Hainan lick your chops

  2. Drone completes military mapping mission in NW China

  3. Temple ruins of Yungang Grottoes edges into new archaeological discoveries of 2011

  4. Blooming tulips in Pujiang County, Sichuan

Most Popular

Opinions

  1. Bo investigation warns officials of power abuse
  2. Restart Six-Party Talks
  3. Most Americans see benefits of close U.S.-China ties
  4. Reform will not impair public institutions: ministries
  5. Blasts spell bleak future for Afghan stability
  6. Security cooperation is SCO's shining point
  7. Syria ceasefire is not negotiable
  8. Freedom of speech does not protect rumors
  9. China's state-owned firms not 'non-market' entity
  10. China should be patient during peaceful rise

What's happening in China

'Chinese Seal' imprints on London Book Fair

  1. Chinese 'coal capital' gets ancient face-lift
  2. Salt on baby's burns makes injuries critical
  3. Air quality in Guangzhou deteriorates
  4. Internet a 'big killer' of copyright security
  5. Panic grows over capsule scandal

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai