7 Nov 2011

IMF resources to be boosted

1:52 pm on 7 November 2011

The leaders of the 20 leading developed and emerging nations have agreed to boost the resources of the International Monetary Fund but won't set out how much that will be.

The eurozone debt crisis dominated the leaders' summit, particularly fears Europe's currency union might fall apart over the political turmoil in Greece.

G20 leaders failed to secure new money from potential investors such as China and Brazil for efforts to overcome the euro zone debt crisis.

IMF head Christine Lagarde says she's received a commitment from the leaders that the fund can meet any request from Europe but no amount has been committed.

She says the multiple meetings that took place separate from the plenary sessions clearly demonstrated that the Europeans are dealing with their issues.

She says she is not fixated on a number and the blanket commitment that whatever it takes will be contributed is good enough for her.