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China's capital increase to IMF will help stabilize global economy

06-21-2012 09:23 BJT Special Report:President Hu Visits Denmark, Attend G20 Summit |

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China's central bank confirmed on Wednesday it will inject 43 billion U.S. dollars into the International Monetary Fund. The money will be put into the fund's crisis-fighting reserves. The announcement was originally made at the G20 summit Los Cabos.

This is part of a pledge by G20 countries to supply the IMF with extra firepower to shore up the global financial system. China joins other countries in the global push to nearly double the IMF’s war chest to 456 billion U.S. dollars, which is intended to help shelter countries from the fallout of the eurozone crisis.

The central bank also insists the IMF should complete a reform of its quota shares approved in 2010 to give emerging markets and developing countries a bigger say in the fund.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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