// IP Marketing video - START// IP Marketing video - END

IMF chief hopes for consensus on $400 billion rise in funds

IMF chief hopes for consensus on $400 billion rise in funds

PanARMENIAN.Net - IMF chief Christine Lagarde hopes to gain broad consensus on a more than $400 billion rise in the fund's firepower this week, an Italian newspaper on Tuesday, April 17 quoted her as saying, though it may take some time to gain final commitments.

"I really hope this week we'll reach the critical mass of more than $400 billion. We are determined to do all we can," Lagarde told financial daily Il Sole 24 Ore.

"I am ready to leave the matter open for a few weeks: some countries need a little bit more time for parliamentary approval," she added.

Lagarde reiterated her view that the increase needed in the IMF's firepower was now estimated to be smaller compared to when it was last assessed at end-December.

"The overall risk evaluation is unchanged, but we are in April and some countries have already raised on the markets more than half of what they need for 2012, so our estimate has shrunk," she said, Reuters reported.

 Top stories
A report said the slowdown is because of low commodity prices that are hurting energy exporting countries like Azerbaijan and Uzbekistan.
Karapetyan stressed the importance of employing modern technologies, adding that the government is ready to support the business entities.
90 local organizations representing the country’s agricultural product processing industry participate in the trade show.
Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.
Partner news