EU Agrees to Give $175 Billion to IMF
2009-09-02 0:00


EU finance ministers say they are ready to increase their total contribution to the International Monetary Fund to Ä125 billion ($175 billion.)

Sweden's Anders Borg said the 27-nation bloc will give more money to help plug a shortfall in the $500 billion the fund is looking for to help it lend to countries suffering from the global economic downturn.

He told reporters after a Wednesday meeting EU countries still have to decide how much each of them will pledge.

Germany is promising Ä25.03 billion, France will give Ä18.45 billion and Britain will up its share by an extra $11 billion to $26 billion.


Anders Borg, Swedenís Minister for Finance, on the Ecofin ministersí lunch, 2 Sep

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