Thursday, June 21, 2012

India offers $10 billion to fight eurozone crisis

India pledged $10 billion to the International Monetary Fund (IMF) to help Eurozone countries out of the current crisis and prevent adverse fallout on emerging economies.
“The International Monetary Fund has a critical, supportive role to play in stabilizing the Eurozone. All members must help the fund to play this role,” the Prime Minister told the G20 Summit  at LOS CABOS (Mexico) on Monday. “I am happy to announce India has decided to contribute $10 billion to IMF’s additional firewall of $430 billion,” he said, also appealing to countries with surpluses, such as China, to make similar contributions.

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