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World Bank Is Going Bust

THE world’s bank — the International Monetary Fund — is going BUST and must be bailed out, Gordon Brown warned last night.

The IMF has only got £150billion left, it emerged — with dozens of countries queuing up for major handouts to keep afloat.

The PM urged cash-rich China and oil sheikhs to give hundreds of billions so the IMF can keep giving out funds — and stop it going bust.

Mr Brown said: “This may not be enough. It is becoming increasingly clear to me we cannot delay and we now need substantial additional resources in addition to the $250billion the IMF already has available.

“The big surplus countries — those that have got big reserves — are in a position to help most and we will be urging them to do so.”

The IMF’s role is to help countries stave off bankruptcy. It handed over £16.5billion to Ukraine this week and Hungary is also desperat


Added: Oct-29-2008 
By: drynwhyl
Tags: imf, international, monetary, fund, bank, bust, credit, crisis
Views: 9655 | Comments: 5 | Votes: 0 | Favorites: 1 | Shared: 1 | Updates: 0 | Times used in channels: 1
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