The extra commitment will take Britain’s total contributions to the International Monetary Fund (IMF) to £40bn, putting every household on the line for £1,600. The Chancellor struck the deal in Washington as part of a broad agreement between a number of non-eurozone countries to pump an extra $200bn into the IMF’s resources to help underpin the global recovery. Japan has committed $60bn and Switzerland about $26bn. In total, the IMF has secured about $400bn in extra funding from members, half of which was pledged by the eurozone countries last December. The US and Canada, though, have refused to take part. Unveiling ... (full story)