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Eurozone IMF loan target missed

12-20-2011 14:07 BJT

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Eurozone finance ministers have agreed to boost IMF resources by 150 billion euros to ward off the debt crisis and won support for more money from EU allies. However, it was unclear if the bloc would reach its 200 billion euro target after Britain bowed out.

Following a three-hour conference call, European Union finance ministers said currency zone outsiders like the Czech Republic, Denmark, Poland and Sweden would also grant loans to the IMF.

But the EU said those lenders must first win parliamentary approval, and Britain made clear it would not participate in the plan.

Analysts say the eurozone may become more reliant than ever on major economies, such China and on Russia, which have already shown willingness to lend more to the IMF.

The United States, for its part, is concerned about the IMF’s exposure to the eurozone.

Ministers had set an informal deadline of Monday to arrive at the 200 billion figure, which was agreed by EU leaders at a summit at the beginning of December, and urged other nations to take part.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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