By Johanna Treeck
MEXICO CITY (MNI) – G20 finance ministers and central bankers have
made good progress towards securing an increase of the International
Monetary Fund’s resources at the fund’s Spring meetings, European
Central Bank Executive Board member Joerg Asmussen told reporters on
Sunday.
“I believe it was a successful conference,” he said shortly before
returning to Europe.
“We have made good progress towards deciding on global firewalls –
this pertains primarily to IMF resources — at the IMF’s spring
meetings in the third week of April,” Asmussen said.
For that to happen, it is a precondition that “the European’s in
March review their own firewalls, that is the EFSF/ESM,” Asmussen said.
“There is broad agreement that the IMF cannot substitute for the
absence of a stronger European firewall and that the IMF cannot move
forward without more clarity on Europe’s own plans,” U.S. Treasury
Secretary Timothy Geithner said earlier Sunday.
Frankfurt newsroom +49 69 72 01 42; e-mail: jtreeck@marketnews.com
** Market News International – Mexico City **
[TOPICS: MT$$$$,M$$EC$,M$X$$$,M$$CR$]
