Timothy Geithner (Photo credit: Wikipedia)The United States on Wednesday threw its support behind a bid to boost the International Monetary Fund's financial resources, signaling greater satisfaction among Group of 20 nations with Europe's efforts to resolve its debt crisis. The U.S. government will not chip in more money of its own, but warm words from Treasury Secretary Timothy Geithner for commitments by others may clear a path for G20 nations meeting this week in Washington to agree on a way to bolster the IMF's war chest.
The idea is to bulk up so the Fund so it can aid non-European countries that get caught up in the maelstrom emanating from the euro zone.
The effort to expand the IMF's coffers is expected to dominate a meeting of G20 financial officials over dinner on Thursday and during the day on Friday. It will also be front and center at the IMF's semi-annual session on Saturday... Continue to read.
No comments:
Post a Comment