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IMF may need more cash for poor nations
Bill Condie12.01.09
THE International Monetary Fund (IMF) says it may need another $150 billion (£98.87 billion) to help save emerging markets and poorer countries from disaster in the global economic recession.
Managing Director Dominique Strauss-Kahn says European leaders have failed to grasp the seriousness of the problems facing their region.
In Western Europe, governments are “behind the curve” in implementing stimulus packages and are “still underestimating the needs,” said Strauss-Kahn.
The full impact of the downturn has yet to hit the region, where the “shops are still full”, he said.
He warned that the fund will make a “significant” increase in its $1.4 trillion projection of global financial losses and writedowns due to the crisis.
“If in six months from now the crisis has worsened and many other of our members need our help, the demand may be above what we have,” Strauss-Kahn said.
The IMF has already agreed to lend $41.8 billion to troubled economies.
Reader views (3)
Someone please stop McBroon before he offers to fund this shortfall!!
Broken Britain is effectively bankrupt - charity begins at home.
- Ex-Pat David, Cape Town, South Africa
When is Crash Gordon having to go there? This is serious. We have no more money (wasted over last 10years) and Crash keeps on going.
- Georgie, London NW1
You can the UK to the list as we will require substantial IMF assistance by the time 'Bailout' Brown has finished.
- A Hariis, Kettering
