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Emerging powers ready to give IMF billions
Major emerging powers stood ready on Friday to pledge money to bolster the International Monetary Fund's crisis-fighting war chest, though Brazil was holding out for promises that their voting power at the global lender would increase. Russia said that G20 advanced and emerging countries were ready at a meeting on Friday to commit enough new funds to fulfill IMF chief Christine Lagarde's request for at least $400 billion to draw a line under the euro-zone crisis. Russia itself, he said, would offer $10 billion. "Trust me that the G20 will announce the final amount. This will be an amount that will satisfy the ... (full story)
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