|Page (1) of 1 - 04/12/12||email article||print page|
IMF's Lagarde says agency might not need as big an increase in loan resources as first thought
WASHINGTON (AP) ' The head of the International Monetary Fund says the lending agency might not need as large a boost in financial resources as first thought to address Europe's debt crisis.
IMF Managing Director Christine Lagarde didn't elaborate in a speech Thursday beyond citing an improved "economic climate." She says she hopes to resolve the issue when the IMF holds its spring meeting in Washington next week.
The IMF has about $400 billion in resources it can use to provide loans to troubled countries. In the past, Lagarde discussed raising that total to near $1 trillion. Her comments Thursday suggested that the IMF might need less.
The United States, the IMF's largest shareholder, has said it won't contribute to an increase in IMF resources. Other countries outside Europe have expressed reluctance, too.