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India pledges $10 bn to IMF for Eurozone crisis

By The Assam Tribune
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LOS CABOS (MEXICO), June 19 � India pledged $10 billion to the International Monetary Fund (IMF) to help Eurozone countries out of the current crisis and prevent adverse fallout on emerging economies.

�The International Monetary Fund has a critical, supportive role to play in stabilizing the Eurozone. All members must help the fund to play this role,� the Prime Minister told the G20 Summit here on Monday. �I am happy to announce India has decided to contribute $10 billion to IMF�s additional firewall of $430 billion,� he said, also appealing to countries with surpluses, such as China, to make similar contributions.

The Prime Minister began by congratulating the new government in Greece that is about to take office, as it has given hope that the debt-laden country will stay in the Eurozone and take up critical reforms. �We wish them well and are encouraged by the early statements of intent.� He, nevertheless, said the crisis in Eurozone remained worrying, as it was pulling down even emerging economies such as India and China, which were earlier on a high growth path.

�Yet the fundamentals of the Indian economy remain strong and we are confident of bringing back the rhythm of high growth of 8-9 per cent per annum.� � IANS

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India pledges $10 bn to IMF for Eurozone crisis

LOS CABOS (MEXICO), June 19 � India pledged $10 billion to the International Monetary Fund (IMF) to help Eurozone countries out of the current crisis and prevent adverse fallout on emerging economies.

�The International Monetary Fund has a critical, supportive role to play in stabilizing the Eurozone. All members must help the fund to play this role,� the Prime Minister told the G20 Summit here on Monday. �I am happy to announce India has decided to contribute $10 billion to IMF�s additional firewall of $430 billion,� he said, also appealing to countries with surpluses, such as China, to make similar contributions.

The Prime Minister began by congratulating the new government in Greece that is about to take office, as it has given hope that the debt-laden country will stay in the Eurozone and take up critical reforms. �We wish them well and are encouraged by the early statements of intent.� He, nevertheless, said the crisis in Eurozone remained worrying, as it was pulling down even emerging economies such as India and China, which were earlier on a high growth path.

�Yet the fundamentals of the Indian economy remain strong and we are confident of bringing back the rhythm of high growth of 8-9 per cent per annum.� � IANS

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