S Arabia not mulling more cash for IMF
Monday, 17 November 2008
WASHINGTON, Nov 16 (Reuters): Saudi Arabia has no plans to offer extra funds to the International Monetary Fund (IMF), Finance Minister Ibrahim al-Assaf said Saturday, quashing speculation it would offer cash to help the IMF battle the global financial crisis.
"There were lots of rumors that we were coming here to pay the bill, there is no such thing," Assaf told newsmen in an interview on the sidelines of a meeting of leaders from the Group of Twenty (G20) advanced and emerging economies.
Saudi Arabia, the IMF's largest Arab shareholder and the only Arab state in the G20, has been urged to chip in to ensure the IMF has enough resources to protect emerging economies from the worst financial crisis since the 1930s.
"There were lots of rumors that we were coming here to pay the bill, there is no such thing," Assaf told newsmen in an interview on the sidelines of a meeting of leaders from the Group of Twenty (G20) advanced and emerging economies.
Saudi Arabia, the IMF's largest Arab shareholder and the only Arab state in the G20, has been urged to chip in to ensure the IMF has enough resources to protect emerging economies from the worst financial crisis since the 1930s.