Report: IMF strives to bolster lending resources to prevent crises

07/18/2010 | Reuters

The International Monetary Fund is striving to increase lending resources from $750 billion to $1 trillion, according to Financial Times. The IMF aims to have financing agreements in place that would be tailored to individual nations. "Even when not in a time of crisis, a big fund, likely to intervene massively, is something that can help prevent crises," Managing Director Dominique Strauss-Kahn said. "Just because the financing role decreases, doesn't mean we don't need to have huge firepower."

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