IMF gets $456 billion for crisis firewall
LOS Cabos, Mexico – IMF chief Christine Lagarde said on Monday that member states had promised a total of $456 billion (361 billion euros) for its new crisis fund, $26 billion more than a target set in April.
“Countries large and small have rallied to our call for action, and more may join,” the International Monetary Fund director said in a statement.
“I salute them and their commitment to multilateralism. As a result, total pledges have risen to $456 billion, almost doubling our lending capacity.”
China said it is pledging $43 bn to the IMF economic crisis fund.
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