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Sweden to send Skr70 billion to the IMF account ad Japan steps up contribution to the bodyTuesday, 17 April 2012
Sweden is initially prepared to put up $10 billion, nearly Skr70 billion into the IMF account, according to the Swedish Finance Minister, Anders Borg, reports Reuters. Maximum Sweden will contribute is reported to be Skr100 billion.
On the side is also Japan which is ready to contribute $60 billion (about Skr408 billion) to the International Monetary Fund (IMF), according to Finance Minister in June Azumi.
G20 finance ministers meet later this week in Washington to discuss how the IMF's cash is to become strong enough to manage to stem the debt crisis in Europe.
Azumi said after the announcement in Tokyo that he is convinced that other countries will follow Japan's example and increase its contribution to the IMF.
IMF chief, Christine Lagarde welcomed Japan's pledge of new billions to the IMF.
"This is an important step forward "in efforts to" prevent and combat the crisis and promote global economic stability, "she said in a statement.
She urged other member countries to follow Japan's example.
The world's nations should put up at least for another $400 billion, equivalent to Skr2 700 billion, to the IMF to address trouble spots like the one in the euro countries. This is the view of the IMF chief, Christine Lagarde to the German newspaper Frankfurter Allgemeine before a G20 summit later this week.
By Scancomark.se Team
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