June 19, 2012
Countries Give Figures on Pledges to Boost IMF Account
Several emerging-market countries Monday detailed their plans to boost the International Monetary Fund's coffers by more than $90 billion, to push the total new commitments to about $456 billion.
China is pledging $43 billion, while India, Russia, Brazil and Mexico told Group of 20 officials they would commit around $10 billion each. Turkey committed $5 billion, and a handful of others offered about $1 billion.
Meanwhile, the five-nation Brics group—Brazil, Russia, India, China and South Africa—said they would study pooling foreign-exchange reserves, as Europe's financial crisis threatens to spill over into the global economy.
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