Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

IMF needs ‘hundreds of billions of dollars’

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

ITN
Sunday, Nov 2, 2008

The International Monetary Fund (IMF) needs hundreds of billions of dollars to protect struggling economies from the global financial crisis, according to Gordon Brown as he leads a business and ministerial delegation to the Gulf States.

With many developed countries strapped for cash, the Prime Minister wants countries with large financial resources such as China and oil-rich Gulf States to contribute to a new IMF facility aimed at keeping vulnerable economies afloat.

Mr Brown said: “If we are to stop the spread of the financial crisis, we need a better global insurance policy to help distressed economies.

“That is why I have called for more resources for the IMF – hundreds of billions of dollars on top of the $250 billion they already have available – to lend to those countries at risk of financial collapse.”

(Article continues below)

IMF needs hundreds of billions of dollars 161008pptv1

Mr Brown has positioned himself at the forefront of the global response to the credit crisis, a move that has helped to boost the poll ratings of his out-of-favour ruling Labour Party ahead of an election due by May 2010.

  • A d v e r t i s e m e n t

“The oil producing countries, who have generated over $1 trillion from higher oil prices in recent years, are in a position to contribute,” Mr Brown said.

“This may seem remote from the every day concerns of British families, but it is only by stabilising the world economy that we can lay the foundations for economic recovery.”

Mr Brown is leading a high level business and ministerial delegation to the Gulf States to also encourage more investment from the cash-rich region and help in steadying volatile oil prices.

Full article here

This article was posted: Sunday, November 2, 2008 at 6:48 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
NSA Uses Secret Search Engine to Look Up Your Info See the rest on the Alex Jones YouTube channel.

MSM Buries CDC Scientist’s Confession About Vaccines & Autism Link See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.