London: Britain is ready to provide an extra $11 billion as part of efforts to increase the resources of the International Monetary Fund, finance minister Alistair Darling said.
Writing in Monday’s Guardian newspaper, Darling said G20 finance ministers meeting in London on Friday would step up efforts to repair the world’s financial system and secure economic recovery.
In April, world leaders pledged to treble the IMF’s resources to $750 billion to help it support the emerging markets most hit by the recession.
Darling said Europe should take a lead in ensuring this target is met.
“Europe should set an example and do more to meet the target by committing up to $175 billion—with the UK ready to provide up to an additional $11 billion, taking our total contribution to over $26 billion,” Darling wrote.
On the domestic front, Darling said the government would “do more” to support the economy and was confident growth would resume around the turn of the year.