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UK ready to send additional $11B to IMF

(Agencies)
Updated: 2009-08-31 17:55

LONDON: Britain's treasury chief Alastair Darling is urging European governments to give the International Monetary Fund a $75 billion boost.

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In an article for the Guardian newspaper, Darling says Britain is ready to provide up to an extra $11 billion to the fund. Monday's comments come ahead of a meeting of the Group of 20 finance ministers this week in London.

In April, participants at the G20 summit announced they would triple the IMF's funding to $750 billion. European nations have already committed $100 billion.

Darling says in the article that Europe should "set an example and do more to meet the target by committing up to $175 billion -- with the UK ready to provide up to an additional $11 billion, taking our total contribution to over $26 billion."