Tuesday, July 27, 2010

The I.M.F. We Need

New York Times
Editorial
July 25, 2010


Just a year after the Group of 20 agreed to triple the resources of the International Monetary Fund to $750 billion, the head of the fund, Dominique Strauss-Kahn, is asking for $250 billion more to bolster its lending war chest.

This is a lot of money. Given its stake in the fund, Washington’s share could be about $42 billion. The fund should still get it. No one should forget that just a few weeks ago the I.M.F. had to commit nearly $40 billion to help stop Greece from imploding, and days later, it promised $320 billion to try to stop the euro from crashing.

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