Tuesday, 19 June 2012

Led by China, emerging powers pump up IMF firewall

The contributions from the BRICS came with warnings that they want to see changes at the IMF, where their voting power is a fraction of their power in the global economy, and that the money should not be reserved for Europe. – AFP photo

LOS CABOS: Led by China, emerging economies pledged huge sums to the International Monetary Fund’s global firewall Monday, helping it raise $456 billion in resources as the eurozone crisis rages.

In a clear statement of their new force in the world

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