IMF could borrow USD 15bn from Russia.

By bne IntelliNews June 21, 2011
As announced by FinMin Alexei Kudrin, IMF could borrow USD 15bn from Russia in order to support EU member states. Kudrin added that Russia is ready to support global markets on the accounts of its reserves, estimating that USD 30bn-USD 40bn could be granted for that in a long-term perspective. FinMin believes that EU and IMF have to support Greece in current situation, in order to avoid even more costly economic development. EU stabilization fund should be increased up to two-fold in order to avoid similar scenario in other EU member states, namely Portugal, he added. Finally, Kudrin stressed that Russia and China who is also ready to invest funds in international financial stability should have their representation in IMF increased.

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