IMF announces $430 billion to boost resources
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The International Monetary Fund says it has raised more than $430 billion in an effort to assure finance markets that it has sufficient firepower to handle any new problems from Europe's prolonged debt crisis.
IMF Managing Director Christine Lagarde announced the new figure at the conclusion among finance officials of the Group of 20 major economic powers on Friday. She said that some countries including Russia, India, China and Brazil had made private pledges but did not want to issue public commitments until they had conferred with officials in their home capitals. (AP)
