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WASHINGTON, June 14: The International Monetary Fund said on Thursday it was hopeful the Group of 20 powers next week will confirm the $430 billion in new crisis funding promised last April.
But an IMF spokesman said he did not expect a finalisation of the firewall fund in the Los Cabos, Mexico G20 leaders summit, despite the deterioration of conditions in the eurozone, where a need for the emergency backup funding would likely emerge.
“We would expect in Los Cabos a further update on that... hopefully a firming-up of the commitments would be part of that discussion,” said spokesman Gerry Rice.—AFP
