Eurozone IMF Loan Target In Danger

Recently, ministers of the eurozone agreed to boost IMF resources by 150 billion euros to ward off the debt crisis and won support for more money from EU allies. However, it was still not clear if the bloc would reach its 200 billion euro target after Britain bowed out.

Eurozone IMF Loan Target In Danger

European Union finance ministers said currency zone outsiders the Czech Republic, Denmark, Poland, and Sweden will also grant loans to the International Monetary Fund to help save the 17-nation zone.

“Euro area member states will provide 150 billion euros of additional resources through bilateral loans to the fund’s general resources account,” the EU finance ministers said in a joint statement after their call.

“The EU would welcome G20 members and other financially strong IMF members to support the efforts to safeguard global financial stability by contributing to the increase in IMF resources,” the statement said.

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