Monday, October 17, 2011

IMF has enough funds for now - Lagarde

PARIS: The International Monetary Fund has enough capital at the moment, managing director Christine Lagarde said on Monday.

"Today, the IMF has appropriate means," Lagarde said on Europe 1 radio.

An emerging market G20 source said on Friday that the IMF may need a capital injection of about $350 billion to give it more firepower to fight economic crises.

Lagarde added that the state should only be involved in bank recapitalisations as a last resort.

"The priority is that they get capital from shareholders and as a last resort if these means were not available or sufficient, a more collective formula (should) be put in place including with the state intervening if necessary," she said. ' Reuters

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