Source: CNN
G-20 leaders are debating not whether to give more money to the IMF, but how much. The Brazilian Finance Minister is on record asking for US$750 billion more; the U.S. is reportedly in the same ballpark; Japan has already agreed to ante up US$100 billion; others are talking about a smaller overall Christmas gift of only US$250-500 billion. Stephanie Flanders, the BBC economics editor, discusses this and other agenda items for tomorrow’s G-20 summit.
The G-20’s main order of business tomorrow will be solving the global financial crisis, and in addition to capitalizing the IMF, the size of countries’ fiscal stimulus commitments and the makeup of financial regulatory reform are on the agenda. A BBC article outlines the dynamics of the summit, providing a rough agenda of the day tomorrow and noting the protests surrounding this critical meeting. More detail on protests is reported in this CNN piece.
