IMF seeks up to $5 billion in funds

The International Monetary Fund said Wednesday that it’s aiming to increase its financial firepower by around $500 billion so it can give out new loans to help ease a worsening financial crisis.

THE NEWS TRIBUNE

Published: 01/19/12 12:05 am

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The International Monetary Fund said Wednesday that it’s aiming to increase its financial firepower by around $500 billion so it can give out new loans to help ease a worsening financial crisis.

Responding to speculation surrounding its funding requirements, the Washington, D.C.-based institution said its staff estimates that countries around the world will need about $1 trillion in loans over the coming years. Most of the concerns center on the 17 nations that use the euro and their debt crisis.

News Tribune news services

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