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G20 finmins to look into bigger IMF resources

04 November 2011 14:46 (UTC +04:00)

Baku - APA-Economics. Finance ministers of the world’s 20 biggest developed and developing economies (G20) are likely to investigate ways of raising the amount of money available to International Monetary Fund, a senior European Union official said on Friday, APA reports quoting AFP.

Herman van Rompuy, who chairs meetings of European leaders, told a news conference towards the end of a meeting of G20 leaders in Cannes that he hoped a deal to boost the resources available to the IMF would be agreed "in the next minutes".

"We (euro zone leaders) wanted more lending capacity, more resources, available for the International Monetary Fund," Van Rompuy told the news conference.

"And... we have ...different options and I mentioned them in my introduction. We asked at the G20 level that the ministers of finance of the G20 work on the establishment on those three options," he said.

"One of the options is to set up, you can call it some kind of trust fund, enhancing the resources of the IMF. So this is not only meant for the euro zone, it is meant for the global community," Van Rompuy said.