The Fed will not drain funds to IMF
PARIS. United States (U.S.) has denied the news about the possibility the Federal Reserve funds will flow to the International Monetary Fund (IMF). U.S. Treasury Secretary Timothy Geithner said the news about the injection of funds into the IMF to resolve the problem of Europe's economic crisis completely unfounded.
Geithner said that the European Central Bank (ECB) still has a big role to resolve the problem of the European crisis. "Reports from some media about the flow of funds to the IMF by the Fed completely inaccurate," he said.
While doing a press conference with German Finance Minister Wolfgang Schaeuble, Geithner opened up opportunities that Europe can still expect additional aid from the U.S. and the IMF.
Previously, the leading German daily, Die Welt reported, the euro zone central banks will provide up to 100 billion euros, equivalent to U.S. $ 134.2 billion.
IMF chief Christine Lagarde forthright that the IMF funds amounting to U.S. $ 390 billion is felt not enough to ward off global conditions if it worsens.
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