Gathers the Mexican Lowes card wass in 20 country group (G20) leader (Los Cabos) time, and so on the emerging market country has just like become the conference site including China and Brazil “the star” - - including the golden brick five country 12 countries in this G20 summit period pledged helps European and the world economics to the International Monetary Fund (IMF) note capital got through the difficult time.
According to the Xinhua News Agency reports on Tuesday stated that, China at the G20 summit expressed will contribute 43,000,000,000 US dollars to use in IMF the capital reorganization.The news release issued on Monday which according to IMF, Brazil, India, Russia and Mexico will also distinguish the note to help 10,000,000,000 US dollars.IMF obtains at present the pledge note capital total amount rose from this April time 430,000,000,000 US dollars to 456,000,000,000 US dollars.
In addition, the G20 bulletin draft will demonstrate that, the various countries' leader pledged takes all essential measures to raise inspires the demand, promotes the global economy to grow and to remould the confidence.G20 hoped the Euro sector can with the Greek New Government cooperation, guarantee Greece to persist the reform plan, the Euro sector may last.
IMF firepower double
Mexico local time Monday, including Chinese, Russian, Mexican, India's several countries announced increased the fund contribution to IMF the detail.Besides the golden brick four countries and this year G20 host Mexico, Turkey pledged will increase the capital 5,000,000,000 euros.
“Many countries, regardless of the size, all responded our motion appeal.” President IMF pulls Gadd in the statement which Monday issued to indicate that, above increases the capital to pledge unfolded various member nations to guarantee IMF to obtain the enough resources to fulfill maintains the global finance stable responsibility the widespread determination.
Pulls Gadd to state that, these resources available in prevented the crisis the occurrence and the crisis solution, as well as satisfies all IMF member nation the latent financing demand.
For should to the whole world financial crisis, IMF once attain the note in 2009 to help 750,000,000,000 US dollars.But worsens unceasingly along with the Euro sector debt crisis, G20 in this April IMF spring at the annual meeting pledged will expand the IMF resources, in which majority of funds originates from the European country.But at that time was pledging in 430,000,000,000 US dollars funds, some 70,000,000,000 US dollars origins are by no means public.
The additional note capital will enter the IMF ordinary fund account through the temporary bilateral loan and the bill purchase agreement form, and will use in all member nations, but non-specific area, moreover only then will have need time in the member nation can use, but IMF will also take the essential risk guard measure to guarantee the fund security.
Before, uses up basically in the IMF existing 380,000,000,000 US dollars funds, IMF is unable to use this new fund, but this will possibly spend several month time.Moreover, because IMF needs to remain the part new fund does the insurance reserve fund, therefore this time will increase the capital to make IMF the loan ability to increase approximately one time, to 700,000,000,000 US dollars about.
The golden brick four countries contribute 73,000,000,000 US dollars
Brazil Minister Munder adds the expression, at present the golden brick four country announcement note capital amount with this April IMF announcement consistency, at that time the IMF statement name obtained the member nation to pledge the note helped 430,000,000,000 US dollars, Brazil, Russia, India and China and so on main emerging market country agreement contribution at least 73,000,000,000 US dollars.
Looked from the various countries to the IMF contribution amount that, before the place ten are in turn: Japan, Germany, China, France, Italy, Spain, Holland, England, South Korea, Saudi Arabia, these national amount of increase accounts for the total amount approximately 70%.
At present up to, 456,000,000,000 US dollars solicits the capital amount to surpass pulls 400,000,000,000 US dollars goals which in front of Gadd this proposed.Much less all “makes a great effort” in the most countries the time which lives, this success appears extremely hard-won.
However, also starts in the emerging market country gives money generously in abundance, the world first big economy, IMF first major stockholder US until now still persisted “does not lift a finger to help” - - in this 456,000,000,000 US dollars, a cent money has not come from US.
Mexican President Kaerdelong indicated that,“This was IMF increases the capital first time not to have US to participation, has reflected the emerging market importance.”
The estimate on Mexico local time Tuesday, the G20 country can help the IMF pledge to the note to carry on the fast authorization, by stabilizes the market mood as soon as possible, heightens the market confidence.
The golden brick country exerts pressure the IMF share reform
It is noteworthy that, meets after Monday, the golden brick country (Brazil, Russia, India, China and South Africa) issued a statement to state, they increased the capital contribution are based on “on time” complete to IMF in 2010 to pledge expanded the emerging market country words power the share reform anticipated above.
As early as in October, 2010 Treasury Secretary G20 and central bank president who convenes in the South Korean Kyongju in the conference, the various countries achieve the mutual recognition on the IMF share reform question, and plans in front of this year October IMF autumn annual meeting completes the reform, to includes the country which the emerging market country the representation is insufficient to shift 6% above share.
This reform until now slowly has not arrived, because mainly IMF most major stockholder US has not authorized this reform in the legislative procedure.Therefore, worried including China's many emerging market country, because US this November will welcome the election before, perhaps will not be able will take office in new president to authorize this reform, but this will have to wait till at the beginning of at least.
The Chinese government before this emphasized that,“The fund organization is take the share as the foundation organization, the share is the fund organization is most important, the most basic capital source, the fund organization increases the resources to be supposed mainly take the share as a foundation.Hoped the fund organization urges the various countries to complete as soon as possible in 2010 the share reform plan the examination and approval procedure, guarantees fund organization annual meeting completes on time in this year in front of October.”
Munder's adds Monday also to indicate, even if the emerging market responded Germany's appeal, the increase measure will help Europe, the golden brick five countries also still to continue to impel IMF to speed up the reform.Before this Brazil once threatened can detain the note capital, gave a golden brick country bigger right to speak until Europe.
Regarding the golden brick country worry, IMF first vice-president David · Lipton once reporter indicated to "First Finance and economics Daily paper" that,“We can exhaust ability strive for vote as far as possible to many countries authorize this government reform.We hoped US can take an action.US already indicated, because they are electing the time at present, therefore decided does not submit any new bill temporarily.But we can urge them to pass as soon as possible, and completes this government reform as soon as possible.”
Certainly, IMF does not forget to the European officials to exert pressure, requests them to increase the finance and the banking industry integration, including lets Europe's finance relieve the sleepy fund directly to the banking industry note capital, as well as release common creditor's rights (euro bond) and so on.The European Union leaders will discuss the related topic in June 28 to at the 29th European Union summit.
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