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IMF has enough resources to serve members

The International Monetary Fund (IMF) has enough financial resources in the current situation to serve its members, Zhu Min, deputy managing director of IMF said in New Delhi today.

business Updated: Dec 07, 2011 13:31 IST

The International Monetary Fund (IMF) has enough financial resources in the current situation to serve its members, Zhu Min, deputy managing director of IMF said in New Delhi on Wednesday.

Zhu is in the Indian capital city to participate in an international conference on taxation.

US Treasury Secretary Timothy Geithner is meeting French President Nicolas Sarkozy in Paris on Wednesday to press for decisive steps towards resolving Europe's deepening debt crisis, as the region's leaders prepare for a crucial summit on Friday.

On Tuesday, Geithner said the IMF has an important role to play in resolving Europe's debt crisis, but quashed reports that the US Federal reserve would loan money to IMF.

Some European officials want to boost the IMF's resources through bilateral loans to the fund from euro zone national central banks. Channeling money through the IMF could make it more politically palatable for wealthier European countries to devote more resources to the region's bailouts.