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.
-- Frank Ahrens
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By
Frank Ahrens
|
March 11, 2009; 1:12 PM ET
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| Tags: Geithner, IMF, Treasury
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Posted by: millionea7 | March 11, 2009 3:00 PM | Report abuse
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sure, why not? it's all fake money anyway! have the Fed print up a few hundred billion $, then ask BOE's Darling to do the same. it's not like the IMF is corrupt or overpaid so this money will surely be given out prudently.
just don't suggest we give them $500 billion in gold. Obama would slap Geithner himself if Timmy suggested that.