The 22nd Russia-EU summit. From left to right: Russian President Dmitry Medvedev, French President Nicolas Sarkozy, and European Commission Head Jose Manuel Barroso during a joint press conference.
Photo: Alexander Miridonov
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G20 Hasn’t Decided on IMF Capital, RF Finance Ministry Said
The recent summit of G20 hasn’t come up with any definite solution about the increase in IMF capital, said Deputy Finance Minister Dmitry Pankin. “The approach is common, it is necessary to agree on definite actions,” ITAR-TASS quoted Pankin as saying.
During the summit, the officials emphasized that the IMF would probably need additional money. India, for instance, had been advocating the maximum increase in capital of foreign financial institutions so that they fund emerging economies, Pankin explained.
“But no definite decisions have been made,” Pankin specified, adding that Japan, for instance, was deliberating on appropriating $100 billion to IMF to sustain developing countries.
As to the helping hand of Russia, Moscow is deciding whether to grant a loan to Island; the amount will be less than $4 billion, Pankin said.
The media reported earlier, that Island had requested Russia to loan ˆ4 billion. “If the IMF resolves to help Island, ˆ4 billion [of Russia’s aid] is too much for Island, but it is too much for us as well,” the official said.
Should Russia ultimately decides to grant the loan, Pankin went on, the amount would be less than ˆ4 billion and even less than $4 billion.
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