Canada To Give $10 Billion To IMF Emergency Fund

"Canada is to give an extra $10 billion in emergency aid to the International Monetary Fund (IMF) to assist emerging markets and developing countries, Prime Minister Stephen Harper said in a statement Wednesday.... The IMF has said it needs hundreds of billions of dollars more to meet increased demands from its 185 members as the global economy moves toward negative growth...." [Agence France Presse/Factiva]

In a related story, Dow Jones adds that "...G20 leaders are preparing to triple the amount of money available through the IMF to help countries that have been hit hard by the financial crisis, the Reuters news agency reported Wednesday, citing unnamed G7 sources...." [Dow Jones/Factiva]

Reuters writes that "...IMF First Deputy Managing Director John Lipsky said that negotiations included a proposal from US Treasury Secretary Timothy Geithner for an expansion of new arrangements to a total of $500 billion in fresh money -- a move that would increase IMF funds to $750 billion.... In addition, a Russian news agency report on Wednesday said G20 leaders might approve $373 billion worth of IMF Special Drawing Rights (SDRs) for its member countries...." [Reuters/Factiva]