IMF push for $1 trillon rescue fund to cost UK £15bn

Source: Telegraph

Downing Street says Britain is ready to consider a request for extra funds from the International Monetary Fund, which is seeking to boost its firepower to around $1 trillion to safeguard the global economy.

The government made the comments just before the IMF confirmed reports that it wanted to expand its resources to protect ailing economies against any escalation of the eurozone debt crisis.

“Based on staff’s estimate of global potential financing needs of about $1 trillion in the coming years, the Fund would aim to raise up to $500bn in additional lending resources,” the IMF said in a statement.

Read More: IMF push for $1 trillon rescue fund to cost UK £15bn

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