G-20 may contribute over $450 billion to IMF: Calderon

Last Updated: Wednesday, June 20, 2012 - 11:48

Los Cabos: The Group of Twenty (G20) major economies may contribute more than USD 450 billion to the International Monetary Fund (IMF), G20 summit host Mexican President Felipe Calderon has said.

"This is the biggest capitalization in the fund's history," Calderon told journalists after the summit Tuesday.

He said the capitalization would help the global effort to overcome the financial crisis.

The G20 in April pledged to contribute $430 billion to the IMF to fight the spread of the debt crisis in the eurozone.


First Published: Wednesday, June 20, 2012 - 11:48

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