Geithner To G-20: We Need To Give IMF $500 Billion
Treasury Secretary Tim Geithner told members of the G-20 nations (the world's biggest industrialized economies) that they should raise $500 billion to give to the International Monetary Fund to help nations in trouble.
"The G-20 countries must take strong macroeconomic and financial sector measures," Geithner says, in the statement.
The IMF's New Arrangements to Borrow fund, now at $50 billion, should be increased ten-fold, Geithner says, to help out emerging countries hurt by the global economic crisis.
You can read Geithner's entire statement here.
March 11, 2009; 1:12 PM ET
Categories: The Ticker | Tags: Geithner, IMF, Treasury
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Posted by: millionea7 | March 11, 2009 3:00 PM | Report abuse
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