15 Oct '11, 8am

US rejects plan to strengthen IMF in euro zone crisis

US rejects plan to strengthen IMF in euro zone crisis

Proposals to double the size of the International Monetary Fund (IMF) as part of a broader international response to Europe's debt crisis ran into resistance from the United States (US) and others, burying the idea for now and putting the onus firmly back on Europe. -- PHOTO: REUTERS PARIS (REUTERS) - Proposals to double the size of the International Monetary Fund (IMF) as part of a broader international response to Europe's debt crisis ran into resistance from the United States (US) and others, burying the idea for now and putting the onus firmly back on Europe. The outlines of the plan, that had the backing of several developing economies, emerged as G-20 finance ministers and central bankers met in Paris to discuss a world economy under threat from European nations mired in debt. A second day of talks on Saturday may produce more robust language on the urgency of tackli...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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