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UK may pledge additional $11billion to IMF news
31 August 2009

UK treasury chief Alastair Darling has called upon European governments to provide the International Monetary Fund a $75 billion boost.

In an article in the Guardian newspaper, Darling says the UK is ready to provide upto $11 billion in additional funds to the institution. His call comes as the Group of 20 finance ministers is set to meet later this week in London.

In April, the participants at the G-20 summit said they would triple the IMF's funding to $750 billion of which European nations have already committed $100 billion.

In the article Darling has asked European nations to set and example and do more to meet the target by committing up to $175 billion with the UK ready to provide additional funding to the extent $11 billion taking UK's total contribution to over $26 billion.

Meanwhile, the chancellor is considering further measures to keep people in work. In the article he reiterates his view about the UK, like other major economies, emerging from the recession by the end of the year.

He says though risks to the global economy still remained, he was confident growth would return. He says the government would spend whatever it can to keep people in work.

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UK may pledge additional $11billion to IMF