The International Monetary Fund won pledges of fresh cash from Japan to Denmark in a sign it may be able to declare victory as soon as this week in its campaign for more lending resources.
Denmark, Norway and Sweden will increase their financing contributions by a total of more than $26 billion, IMF Managing Director Christine Lagarde said today. Hours earlier, Japan said it will provide $60 billion. Europe has already promised about $200 billion.
The Washington-based lender is seeking to boost its lending capacity from around $380 billion to shield the global economy against any deepening of Europe's debt turmoil. Today's pledges add momentum to Lagarde's push, which she had to scale back last week amid demands for Europe to do more to fix its own woes and a refusal by the U.S. to chip in more money.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
