A boost in International Monetary Fund (IMF) funds is in the interests of the entire global economy, not just of the debt-stricken eurozone, the European Union's executive said Thursday, as it urged other countries to chip in.
On Wednesday, the IMF said it needed an additional 500 billion
dollars on top of its existing 385-billion-dollar lending capacity.
"This would send a very clear sign to the markets" because it
would allow the IMF to come to the rescue "of all its members, and I
am talking globally, not only in terms of European members," Amadeu
Altafaj, spokesman of EU Economy Commissioner Olli Rehn, said.
"No region remains unaffected from possible developments in the
debt crisis in Europe. Therefore we think (IMF funding efforts) must
have a global dimension," he told reporters in Brussels.
Last month, eurozone governments pledged to add up to 150 billion
euros (193 billion dollars) to IMF coffers. But the EU fell short of
its aim to reach 200 billion euros adding in contributions from non
euro area members such as Britain, Denmark and Poland.
Altafaj said the bloc would "warmly welcome" additional offers
from partners in the Group of 20 (G20) major economies forum and
"financially strong ... members of the IMF."
He added that a deal on boosting IMF resources should be
"achievable" by the time G20 finance ministers and central bankers
meet in Mexico City on February 25-26.
