Minggu, 15 April 2012

BRIC contributions are dependent upon being given greater sway at the IMF ( which won't happen next week ) , Canada similar to the US has said no . In sum , expect happy talk but nothing concrete as far as actual cash being given to the IMF.


George Osborne is expected to support the IMF's calls for greater resources in back-room negotiations, but will only pledge the extra funds if agreement can be struck with all the major non-eurozone nations, bar the US.
Tim Geithner, US Treasury Secretary, has made it clear the US will not make any further contributions until the eurozone has bolstered its own bail-out fund sufficiently.
The IMF has been pushing to increase its resources from $400bn (£250bn) to about $1 trillion for several months.
Hopes for a deal at Mexico's G20 summit in February were dashed, but the eurozone has since increased its rescue scheme by around €300bn (£247bn).
On Thursday, IMF managing director Christine Lagarde said she was "hopeful we will make progress" this week.

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