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MEXICO CITY -(Dow Jones)- Reports that China is prepared to lend $100 billion to the International Monetary Fund are “purely rumor,” China’s Deputy Finance Minister Zhu Guangyao said Saturday.
Speaking to reporters on the sidelines of a meeting of finance ministers and central bankers from the Group of 20 nations, Zhu said he was confident the euro zone’s problems can be resolved, and said China was willing to step up cooperation to resolve Europe’s problems.
Earlier Saturday, Dow Jones Newswires reported China and Japan would likely be the first countries to move to boost the IMF’s resources to help cope with the global financial crisis, but neither will make any commitment before the euro zone reaches a deal to increase its own rescue funds, officials participating in the Group of 20 meetings of finance ministers and central bankers said.
The officials said the amounts “being circulated” at the meeting are that China would contribute around $100 billion, and Japan would contribute around $ 50 billion. A second official said no specific pledges to the IMF are expected to be included in the G-20 final communique to be published Sunday.
Source: Dow Jones Newswires
