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View Full Version : Brown seeks cash for IMF as China, India feel crisis



mick silver
3rd November 2008, 19:34
RIYADH (Reuters) British Prime Minister Gordon Brown on Sunday called for billions of dollars in extra funding for the International Monetary Fund to prop up struggling economies, while Chinese Premier Wen Jiabao said maintaining China's strong domestic growth was his priority.

Leaders from Mumbai to Moscow and Berlin moved to support their own economies on Saturday, with India's central bank cutting interest rates for the second time in two weeks, Russia putting 170 billion roubles ($6.4 billion) into a state bank and German Chancellor Angela Merkel pledging support for a big investment package to boost Europe's largest economy.

Brown, speaking in Riyadh, said oil-producing Gulf States and China should contribute money for the IMF to lend to countries at risk of financial collapse.

http://news.yahoo.com/s/nm/20081102/ts_nm/us_financial6_121

mick silver
3rd November 2008, 19:37
Is the IMF broke too

mark2112gum
3rd November 2008, 20:06
If I where a British citizen, I'd be embarrassed that the leader of my country had to go to another country with hat in hand! Sir Winston Churchill would be shocked indeed!

Tribal Warrior
3rd November 2008, 20:20
RIYADH (Reuters) British Prime Minister Gordon Brown on Sunday called for billions of dollars in extra funding for the International Monetary Fund to prop up struggling economies, while Chinese Premier Wen Jiabao said maintaining China's strong domestic growth was his priority.

Leaders from Mumbai to Moscow and Berlin moved to support their own economies on Saturday, with India's central bank cutting interest rates for the second time in two weeks, Russia putting 170 billion roubles ($6.4 billion) into a state bank and German Chancellor Angela Merkel pledging support for a big investment package to boost Europe's largest economy.

Brown, speaking in Riyadh, said oil-producing Gulf States and China should contribute money for the IMF to lend to countries at risk of financial collapse.

http://news.yahoo.com/s/nm/20081102/ts_nm/us_financial6_121

Obviously Brown is blind to the fact that the collapse in Oil prices has ruined the OPEC countries economies and still worsening by the day as Oil has continued to fall in price.