Monday, April 27, 2009

France to press EU to do more on IMF funding

PARIS, April 22 (Reuters) - France wants the European Union to give more than the $100 billion in extra funding than it has already pledged to the International Monetary Fund (IMF), a finance ministry official said on Wednesday. G20 leaders agreed on April 2 to give the IMF an additional $500 billion for economic rescue operations, with the 27-nation European Union committing to contribute $100 billion of that. French Economy Minister Christine Lagarde will write to her EU partners proposing they go beyond their initial offer, said the official, noting $160 billion would be an amount that corresponded to the EU's weight within the IMF.

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