Emerging Economies Urge Europe to Strengthen Financial "Firewall"-Shanghai Metals Market

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Emerging Economies Urge Europe to Strengthen Financial "Firewall"

Data Analysis 08:30:06AM Feb 27, 2012 Source:SMM

MEXICO CITY, Feb. 27 -- The emerging economies will provide the needed resources to the International Monetary Fund (IMF) if Europe takes more measures to strengthen its financial "firewall," Brazilian Finance Minister Guido Mantega said Saturday.

Speaking to reporters on the sidelines of the G20 finance ministers and central bank governors meeting here, the Brazilian finance minister also expressed the hope that the reform of IMF quotas will be implemented "quickly".

"Emerging countries will only help under two conditions: first that they strengthen their firewall and second for the IMF (quota) reform be implemented," the minister said.

He made the remarks immediately after discussions with his counterparts from Russia, India, China and South Africa.

 

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Emerging Economies Urge Europe to Strengthen Financial "Firewall"

Data Analysis 08:30:06AM Feb 27, 2012 Source:SMM

MEXICO CITY, Feb. 27 -- The emerging economies will provide the needed resources to the International Monetary Fund (IMF) if Europe takes more measures to strengthen its financial "firewall," Brazilian Finance Minister Guido Mantega said Saturday.

Speaking to reporters on the sidelines of the G20 finance ministers and central bank governors meeting here, the Brazilian finance minister also expressed the hope that the reform of IMF quotas will be implemented "quickly".

"Emerging countries will only help under two conditions: first that they strengthen their firewall and second for the IMF (quota) reform be implemented," the minister said.

He made the remarks immediately after discussions with his counterparts from Russia, India, China and South Africa.