G20 leaders to boost IMF resources
The world's biggest economies will boost the International Monetary Fund's resources to help the IMF tackle the European debt crisis, European Union President Herman Van Rompuy said on Friday, according to AFP.
"The G20 is ready to assign additional resources to the IMF and to put them rapidly into action, if necessary," Van Rompuy told reporters in Cannes as G20 leaders left their last summit working session for a final working lunch.
"The finance ministers will define concrete options at their next meeting."
Van Rompuy said the plan was to create a kind of "trust fund" within the IMF, which the body could use to make loans to eurozone members, in coordination with the European Union's own European Financial Stability Facility.