G20 May Contribute over $430 Billion to IMF – Calderon

The Group of Twenty major economies may contribute to the International Monetary Fund (IMF) more than the $430 billion agreed before, G20 summit host Mexican President Felipe Calderon said on Saturday.

“I estimate there may be a bigger capitalization,” Calderon said in Los Cabos, where a G20 summit will be held on June 18-19.

The G20 in April pledged to contribute $430 billion to the IMF to fight the spread of the debt crisis in the Eurozone.

Russia has not made up its mind on the size of its additional contribution yet. Earlier, Deputy Finance Minister Sergei Storchak said the contribution would be agreed at the Los Cabos summit. Finance Minister Anton Siluanov said the sum would total at least $10 billion.


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