Britain's Brown calls for bigger IMF bailout fund - Hindustan Times
close_game
close_game

Britain's Brown calls for bigger IMF bailout fund

AP | By, London
Oct 28, 2008 06:33 PM IST

British Prime Minister Gordon Brown said on Tuesday that he wants China and oil-rich Gulf states to offer money for an enhanced IMF bailout fund aimed at helping countries rocked by the global economic downturn.

British Prime Minister Gordon Brown said on Tuesday that he wants China and oil-rich Gulf states to offer money for an enhanced IMF bailout fund aimed at helping countries rocked by the global economic downturn.

HT Image
HT Image

Brown told reporters that countries with the largest surpluses could do most to help.

Hindustan Times - your fastest source for breaking news! Read now.

"We must act now, we must set up the fund as quickly as possible," Brown said in London, ahead of talks on the economic crisis in Paris with French President Nicolas Sarkozy. Brown said he will travel to the Gulf region Saturday to discuss the plan and talk on the telephone with Chinese Premier Wen Jiabao later this week.

The British leader said that the emergency IMF fund needs to offer "substantially" more than the current $250 billion set aside to assist struggling nations.

He said he wasn't ruling out making an additional British contribution to the fund, but indicated other countries would likely need to take a lead.

"We don't rule out anything on this, but the big surplus countries are in a position to do most," Brown said.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On